The Hindu Business Line : Solkar Solar forms jt venture with Singapore co

The venture will involve technology transfer from Solkar to set up a 2-MW per annum solar panel manufacturing unit in Singapore. The total cost of the project is about S$7 million (about Rs 20.3 crore). Solkar Solar and Eco Solar Technologies will each contribute about S$2 million (about Rs 5.8 crore), said Mr T. Sriraman, Managing Director, Eco Solar Technologies Private Ltd.

Indian Bank will contribute a little over S$2 million (about Rs 5.8 crore) for towards debt and buying machinery for the unit, he said.

The unit will power products such as solar lanterns and streetlights. "We plan to expand the capacity of the unit to about 10 MW in future," said Mr Sriraman.

New launches

Solkar also launched five of its products today on Internet portal "e-Bay". These include solar lantern, solar fan, solar mobile phone charger, solar torchlight and solar cap.

At a gathering organised by Solkar, the Tamil Nadu Electricity Minister, Mr N. Veerasamy, told Business Line that the State Government was open to allowing manufacturers of renewable energy-based products set up units in the proposed Nanguneri special economic zone (SEZ).

Foreign industries dealing in renewable energy products that choose to set up units outside the proposed Nanguneri SEZ would be considered for SEZ status, he said. He said renewable energy manufacturers from Germany, Korea and the US were keen to set up units in Tamil Nadu.

Mr V. Subramanian, Secretary, Union Ministry of Non-Conventional Energy Sources, said solar power-based products must move beyond Government subsidy and enter the market directly. "Mass production of solar powered products is the only way to reach the masses," he said. He emphasised on the need for certification of solar products as key to reaching out to wider audiences.

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