Nov 11, 2014 - Chinese photovoltaics (PV) maker Trina Solar Ltd (NYSE:TSL) intends to build a solar equipment factory in India over the next few years as part of a strategy to have 20%-30% of its production outside of China.
The plan is not just to manufacture solar panels in the Asian country, but also to supply the domestic market and even export from India, Trina’s senior vice president, Zhiguo Zhu told the Economic Times on Tuesday.
Last week, the Chinese company took part in the World Economic Forum held in Delhi as it is seeking a local joint venture partner and evaluating opportunities on the Indian market, the newspaper said.
At present, Trina holds a 10% share of the Indian market, having supplied equipment for 280 MW of the total 2,700 MW solar power capacity in the country. Zhu, who is also president of the company’s module business unit, also pointed out he expects it to double its revenue share from India to 10%.
The official was further quoted as saying that the Indian government should make it easier for potential investors in the solar sector. He noted that the current situation is difficult because of the many provinces India has. "We want the government to make the process simple," said Zhu.
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