In the times of Global Warming, Climate Change and falling Natural Resources, conserving Environment and Energy is one of the greatest concerns. Efforts in this regard are made across the world at an urgent pace and the Indian government too has made a major commitment to renewable energy. The Indian government has announced its Solar Mission under the National Action Plan on Climate Change in November 2009 with the goal to generate 1,000 MW of solar power by 2013 and 20,000 MW by 2020.
In light of this, a major step will be taken on Thursday to harness solar energy in India.
America's leading Solar Integrator American Capital Energy, Inc., (ACE) and MSM Energy (MSME), a subsidiary of MSM Industries, Inc., USA an industry leader in information technology, eCommerce and Solar Energy Development, are set to announce a solar energy joint-venture based in India.
The new entity, ICE Solar, will immediately begin providing photovoltaic (PV) solar engineering, procurement and construction (EPC) to the Indian market.
Why Solar?
According to Mr. Tom Hunton, President and CEO, American Capital Energy, the time is right for the world to adopt the clean and renewable energy source as the major electricity producer. "There is a four pronged advantage to embracing solar energy. To - 1) Reduce Energy Risk and Pollution, 2) Turn our open space or roof top into revenue, 3) Reduce Energy Costs immediately and 4), Gain a Competitive Advantage and Don't fall behind. In all these regards this is a great opportunity for all of us to popularize and propagate the use of Solar PVs," said Mr. Hunton.
According to Mr. Madhav Muvvala, President, MSM Energy, subsidiary of MSM Industries, Inc., USA, "ICE Solar, is uniquely positioned to capitalize on this growth opportunity through MSME's significant business development efforts and American Capital Energy's considerable engineering, procurement and construction experience".
According to Mr. Walter Borden, Member, Board of Directors, and Managing Director, Asia Pacific for American Capital Energy, ACE has a distinct advantage in providing Solar PV solutions.
"We are a proven system integrator and project developer with track record of large commercial and utility-scale installations, including the largest rooftop systems in North America and separately one of the largest utility-scale ground mounted projects in the U.S. We have experienced teams with demonstrated execution capabilities and practical knowledge of all issues in project development and implementation. We are excited to enter the Indian market and have plans to excele here too," said Mr. Walter Borden.
Notes to Editor
About PV
PV (Photovoltaic) is best known as a method for generating electric power by using solar cells to convert energy from the sun into electricity. Photovoltaic production has been increasing by an average of more than 20 percent each year since 2002, making it the world's fastest-growing energy technology.
At the end of 2009, the cumulative global PV installations have surpassed 21,000 megawatts. As of October 2009, the largest photovoltaic power plant in North America is the 25 MW DeSoto Next Generation Solar Energy Center in Florida. The plant consists of over 90,000 solar panels. (source: ^ a b c PV Resources.com (2009).
MSM Energy Partnership
MSM Energy has developed a unique partnership model which works with the local partners with global experience in project success with tight process flows. MSME develops solar power generation plants along with local participation and tax equity partners. This is a unique combination for a guaranteed success of projects. This program gives local investor/s shareholding to own and leverage on MSME's global technical and project finance experience and expertise. MSME and its partners have proven track record for delivering the end-to-end solutions for setting up and commissioning solar power plants, further it has the expertise and experience to commission the grid connected plants as well as building integrated PV. Their designers are very well known in the Solar industry providing innovation and guaranteed success.
This combination helps the investors and developers.
More about Ice Solar
ICE Solar Private Limited is a joint venture between MSM Energy, USA and American Capital Energy, USA. The objective of ICE Solar is to bring Advanced Engineering Expertise in the Solar Industry and provide such facilities in India which is in an initial stage of a PV Explosion that is unfolding during the next few years. ICE Solar is considered to be the FIRST EVER EPC Company in India with proven experience and expertise in large scale commercial & utility scale solar PV in USA. Its principal, ACE, has implemented over 35 PV power plants in USA including largest roof top utility scale PV Power plant which is 2.35MW capacity, it has been operating successfully since the beginning of 2009. ICE Solar will take single point responsibility right from techno-commercial feasibility analysis to design, engineering, construction, commissioning and maintenance of PV systems. ICE Solar uniquely provides "energy production guarantees". Production guarantees provide a major reassurance to investors since they know profitability is assured.
About ACE
Leading commercial and industrial solar system integrator and project developer:
-Founded 2005 by former RWE Schott Solar executives (global top 5 vertically integrated solar firm)
-16.5 MW of solar photovoltaic (PV) systems installed in the U.S.; 25.1 MW under construction
-Qualified project pipeline (50%+ probability) of 127.5 MW
-Proven design, engineering and construction expertise and project development and execution capabilities
-Strong relationships with leading solar module and balance-of- system suppliers and project financing sources.
About MSM Energy
MSM Energy Holdings (MSME) is a subsidiary of MSM Industries, Inc., a New Jersey based company dedicated to the development of renewable energy services, consulting, development, technology export and project financing by utilizing the best of class solar photovoltaic (PV) and other solar technologies. MSME's Photovoltaic technologies and products committed to "Solar Technologies Made in America" are to be deployed in United States and India.
MSM Energy is committed with passion for Energy Development through Commercial, Utility Scale power plants. Furthermore, MSME helps third party projects with Project Financing and takes single point responsibility for the overall success of the project in the global market. MSME also works on special application research for specific business verticals. MSME understands the need of underprivileged rural areas and customizes the design for rural electrification. A customized solution from conceptualization, packaging to implementation is provided.
(indiaprwire.com)
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