SunBorne’s investment in Solar Thermal to bring solar costs down to make it competitive with grid power
Sunborne Energy, a leading specialist in Utility Scale Solutions (50MW+) in the solar power sector today discussed their plans of investing in solar thermal generation bringing solar costs down to achieving grid parity.
Mr. Aseem Sharma, Chief Operating Officer and Executive Director, SunBorne Energy said, “We believe that today’s solar technology relies on subsides. For the industry to become economically viable and lucrative for investors the costs will have to be brought down, this includes CAPEX which is only possible if solar power is put on utility scale. Sunborne Energy has a team of passionate experts and veterans in the solar industry who are working towards attaining grid parity. Indigenization of Solar Eco system by localizing capabilities will make India an emerging Solar Power in the world solar space bridging the gap between the Indian solar industry and rest of the world. The indigenization will also attract foreign investment, new job avenues and thus, widespread rural development.”
Dr. Yogi Goswami, Chief Science and Technology Advisor, Sunborne Energy said, “Renewable energy especially solar energy will have to play a very prominent role in meeting the power usage and other energy needs in India. SunBorne Energy intends to become a leading solar power developer. This will translate into developing projects of over 700MW of power in the next 5-7 years, commissioning over 100 MW of solar power plants by 2014 and achieving grid parity within the next 8 years. All of which will add up to make India self sufficient in its energy requirements in the near future.”
The other technology board members of the company namely, Dr. Lee Stefanakos, Dr. Manuel Romero Alvarez and Dr. Aldo Steinfeld shared views about solar technology that are tested and proven in the countries they have extensively worked and gained experience on best known methods of solar power generation like US and Spain preferring ‘Thermal’ to ‘Photovolatics’ even in areas with inadequate water resources.
“In Spain, many investors and utilities intent on building solar power plants are increasingly turning to solar thermal power, an alternative to photovoltaic panels. The solar plants in Spain are dry cooling plants which do not require water”, said Dr. Manuel Romero Alvarez
SunBorne energy is looking at projects in Andhra Pradesh, Rajasthan, Gujarat and Maharastra. They have already started working on their first solar PV plant in Gujarat (15MW) and expect to start their first solar-thermal plant of 50 MW capacity in next 12-20 months.
About Sunborne Energy
Sunborne Energy is a leading specialist in Utility Scale Solutions (50MW+) in the solar power sector. SunBorne will deploy proven technologies and indigenize the entire value chain to drive affordable solar power. Its scope of functions includes localizing capabilities in design, manufacturing, engineering, construction, distribution and operations. SunBorne is developing Utility Scale Solution Plants in Gujarat, Rajasthan and Andhra Pradesh with other States in the pipeline. It aims to deploy 20 percent of the Solar Mission target in the next decade. SunBorne will make solar power an attractive investment option creating sustainable, clean and green energy. SunBorne has been established by internationally recognized experts in solar thermal power generation, a prominent US based private equity fund with assets in excess of $1.7 billion, and business leaders with experience in building businesses in India. The company is headquartered in Gurgaon (Haryana).
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