Risen Energy announces primary order placements of 175MWp Solar PV Modules by India’s Mytrah

Chinese solar module producer Risen Energy has announced the primary order placements of 175MWp Solar PV Modules by India’s Mytrah Energy for dispatch during 2016.

Mytrah’s recently received approval of a USD 175 million direct loan facility from Asia Development Bank (ADB) to assist its growth plans within India, which include the option of purchasing a further 50 MW of Risen modules.

Further details have also emerged in relation to the specifics for materials supply during 2016; 175MWp and an option on a further 50MWp of Risen high-performance solar PV modules. This deal between both the companies will allow it tactically approach their commitments to provide clean energy in line with government expectations, whilst simultaneously challenging the misconception that the solar PV supply chain needs to be a war of attrition.

Ravi Kailas, Mytrah’s Chairman said that “This is another significant milestone in the development of the Company. The involvement of ADB is further evidence of the growing maturity of our business, and after extensive review of potential suppliers, their quality, and capabilities, our contract with Risen are an exciting development in our solar division.”

“Mytrah’s credibility is once more underlined with the ADB loan approval; Well done!” congratulated Bypina Veerraju Chaudary, CSMO of Risen, “Having interacted diligently with Mytrah’s personnel over the last 9 months, exploring the total cost of ownership for energy generation systems, it is obvious that Mytrah is well inside the “serious league”. Mytrah’s severe selection process looks acutely into technological, quality, “state of the art” manufacturing facilities, service, communication, financial stability, and commercial foci, and we are pleased to have measured up to their severe criteria.”

The projects will utilize Risen high-performance solar PV modules, in 72 and 60 cell configuration, with the installations spread across the Indian sub-continent allowing further environmentally, secure, commercially viable benefits to end users, and all parties concerned.

Recently US Agency for International Development (USAID) and Asian Development Bank has signed Memorandum of Understanding (MoU) on Monday for providing Rs 5,681 crore ($848 million) in funding to develop solar parks across India.

Under the MoU USAID will align the technical resources of two of its programs to support ADB’s investments in the development of solar parks and renewable energy transmission infrastructure in states at the forefront of India’s efforts to promote clean energy.