IBC SOLAR expands with independent subsidiary in India
Bad Staffelstein, Germany/ Mumbai, India, 6. November 2012 - IBC SOLAR AG, a leading global photovoltaics company, founded its subsidiary IBC SOLAR Projects Pvt. Ltd. in India and thus expands its international network of independent subsidiaries. IBC SOLAR has been active in the Indian market since 2008. As a general contractor in EPC (Engineering, Procurement, Construction), IBC SOLAR has already successfully executed several large projects in the megawatt range in India. With the new subsidiary in Mumbai, IBC SOLAR has consolidated its local presence, advanced its commitment to the future market that is India and added a twelfth foreign market subsidiary.
The new subsidiary’s activities are focused primarily on project business, the installation of large photovoltaic power plants as well as off-grid equipment and systems for backup power supply. “Remote villages already have problems with public electricity supply. Off-grid systems are the key to stabilising energy supply. The demand is correspondingly high,” said Jan-Marc Raitz, Managing Director of the IBC SOLAR Indian subsidiary.
IBC SOLAR AG has been actively working on photovoltaic projects in India for more than four years and has already established itself in the market thanks to the successful implementation of numerous large solar projects. The company underpinned its long-term commitment as a strong local partner by founding the Indian subsidiary and managing its projects locally from start to finish. As a general contractor with a full service package, IBC SOLAR Projects Pvt. Ltd. eliminates interface problems between the individual parties involved in the project. Project planning and implementation are coordinated by a local contact so that the project runs smoothly. This ensures short lines of communication and guarantees the punctual completion of the PV equipment. Investors get additional security thanks to the performance ratio tests carried out by independent experts. The customer also gets a product and plant system rating guarantee which is valid for several years. Accompanying contracts for technical management and maintenance complete the package. Any faults that may occur can thus be recognized and rectified promptly, meaning that failures and any resulting financial losses can be almost completely ruled out.
“We are convinced that the combination of first class German engineering, many years of experience and secure investment is exactly what the Indian market needs,” said Jan-Marc Raitz.
IBC SOLAR is developing innovative business models for the Indian market which will enable the company to take on the complete development of selected smaller projects up to 1 megawatt (MW) in size and guarantee preliminary financing before the projects can be bought by interested investors. This means that investors are relieved of project financing and the associated risk. Project development outside of the feed-in tariff also provides attractive opportunities thanks to the certificate trade established in India.