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AEG, Electrotherm cancel solar business pact
01 Nov 2011
In view of insufficient solar power projects, AEG Power Solutions and Electrotherm called off their agreement to collaborate in the solar power business in India. While Electrotherm was to provide EPC services for the projects, AEG was to assist in the solar photovoltaic market as well as deliver key components, including solar inverters and monitoring equipment.
According to AEG, the biggest challenge in India is financial closure of solar projects, given that the industry is still in a nascent stage. Of the 800-900 MW planned projects, only 20-30 per cent reached completion, leading to a rise in costs.