REC has supplied 5.8 MW of its award-winning Peak Energy Series solar panels for a solar farm in Rajasthan, India.
Owned and operated by BMD Pvt Ltd and constructed by AEG Power Solutions Group, the facility features 23,200 REC Peak Energy Series solar panels that are expected to generate over 9,700 MWh of electricity annually and avoid the production of 7,272 tonnes of carbon emissions per year.
The solar farm was constructed for BMD in just 4 months.
“One of the decisive factors for selecting REC solar panels was that we get the maximum yield which in turn translates to more tradable Renewable Energy Certificates (RECs)”, said Shantanu Agarwal, Executive Director, BMD. “Since these certificates have a fixed price in a specific time frame, the aim is to maximize the return of investment within this time period and therefore, REC is the right choice.”
REC believes the market in India has strong potential and expects it to grow to 1.6 to 1.8 GW in 2013 due to the nation’s National Solar Mission. However, Luc Graré, REC’s Senior Vice President of Solar Sales and Marketing, warns an emerging trade dispute could threaten India’s solar revolution.
“We strongly believe in open and fair competition, and a trade war is not in the interest of the Indian solar industry.”
The Norway-based company’s products have a substantial presence in Australia; with REC solar panels gaining popularity after local solar provider and REC Platinum Partner Energy Matters introduced Peak Energy Series modules to the home solar power market in 2010.
REC is a fully integrated solar PV company; producing silicon, wafers, cells and modules. It employs 2,300 staff worldwide and generated revenues of more than NOK 7 billion in 2012 – around AUD 1.15 billion.