Huge potential in Indian solar power market

India has a huge future growth potential for the solar energy photovoltaic industry. This is mainly due to the increasing electricity demand, high irradiation levels, favorable government policies, and investments worth billions of dollars being made in the sector.

Indian government is taking steps towards implementing large Megawatt (MW) scale concentrated solar power projects and is poised to position itself as one of the world’s major solar energy producer. Besides, it is quickly developing itself as the major manufacturing hub for solar power plants. Effective utilization of India’s solar potential lies in the successful implementation of the Jawaharlal Nehru National Solar Mission (JNNSM) by the government. This mission would also help in mitigating the international pressure with regard to emission reductions.

Besides, the government is eager to increase the overall solar energy share in the country by concurrently improving infrastructural conditions in the country, especially with products, such as solar water heating systems and solar street lights. Majority of the states are deploying photovoltaic solar power plants and with the implementation of the National Solar Mission, it is expected that, the annual PV installed capacity will grow at a CAGR of around 44% during 2010-2013 to reach 900 MW by 2013 end.

Vorks Energy is planning to set up large scale MW solar energy project and is currently in talks with several state goverments discussing options available in respective states to set up solar plant. The Indian solar market surely seems to be an attractive proposition for solar companies both Indian and international.

Vorks Energy Private Limited was established as a private limited company in the year 2000. The company is registered under Indian Companies Act, 1956 with the objective of providing renewable energy solutions such as Turnkey Power Plants solutions, commercial & roof top solutions, Solar PV modules and Thin films, BIPV Solutions and Solar products.

The company also plans to get in to Captive power generation business with 50 MW solar power plant in the state of Gujarat (India).

The company is promoted by professionals who have worked at Senior Management Positions at Nestle and who have studied at World’s Best Business Schools such as Harvard Business School (USA), Kellogg School of Management (USA), Indian Institute of Management and Indian Institute of Technology.

The company is also planning to open its operation in Singapore as a private entity. This company would be exploring business opportunities in the region.