Canadian solar company SkyPower is looking for partners for its India projects and will start building them in the fall of this year, its CEO told Reuters, adding it was rapidly expanding its team and activities in seven states.
SkyPower CEO, Kerry Adler, denied a report in the business daily Economic Times that the company could exit India, saying SkyPower considers the country to be one of its core markets.
Previously, as See News Renewables reported, an industry source told the Economic Times that SkyPower had engaged intermediaries to arrange the sale of an equity stake in 150 MW of solar projects in the Indian state of Madhya Pradesh. It has already discussed a potential investment with at least two Indian renewable energy developers. Subsequently, SkyPower may even exit, the business daily said, citing industry executives and analysts.
“We do plan to announce in the days ahead the award of the [engineering, procurement, construction] contracts for 7 projects in India and are excited to commence construction of these projects we successfully won in the fall of this year,” Adler said in contrast in 2015.
The assurance by SkyPower could help ease concerns over India’s ambitious solar goals, after US rival SunEdison financial troubles threatened a big solar project in a southern state.