MUMBAI, INDIA: Enfinity, a global renewable energy developer, has signed a strategic collaboration agreement with the Indian conglomerate Videocon Group, active in Telecom GSM Service, Oil and Gas, Power, Retail, DTH and Consumer Electronics to develop large scale Indian projects in solar energy.
The agreement was signed in presence of HRH Prince Filip of Belgium, during his royal mission to India. Enfinity also announced to open a new Pan-Indian office in Mumbai to further support the company's growth strategy.
Via the 50/50 joint-venture between Belgium-based Enfinity and Indian-based Videocon Group, both companies will develop large scale projects in solar energy. The agreement combines Enfinity's expertise in developing and financing renewable energy projects with Videocon's strong presence in India.
Enfinity already has important activities in India. End of 2009, the company announced an agreement with Titan Energy Systems, a manufacturer of PV modules, to develop, finance and construct 1 GWp of PV installations on 3000 acres of land in Andhra Pradesh in the coming five years.
To support its further expansion, Enfinity will set up multiple offices in India. These will all be co-ordinated from a new head office Enfinity is setting up in Mumbai. This location was selected because of its position as commercial centre of India, also accommodating many local and international banks. The new office will employ 25 to 30 people. By the end of 2010, Enfinity expects to employ up to 100 people in several Indian offices.
Saurabh P. Dhoot, Director Videocon Group, said: "Today marks a small step by us for a Giant Leap by India towards an environmentally responsible and sustainable answer to its ever growing energy requirements. Videocon after creating significant value in Energy business in India and Globally around the world from Brazil to Australia, is proud to promote renewable energy on a large platform for India on the backdrop of a government with a strong mission and vision of clean Energy self sufficiency. We are proud to further this by a JV combining the best of capabilities to take the Government's mission to the Next level."
Gino Van Neer, CEO, Enfinity Asia Pacific, added: "India is a very important region in our international expansion. It has an ideal climate to harvest solar energy and has enormous energy needs, being one of the most important emerging markets. End of 2009, India started to implement its "National Solar Mission": the ambition to generate 20.000 MWp by 2020. We support India's plans to react to climate change and to lower its overdependence on fossil fuels. We can offer them our extensive expertise to effectively deploy renewable energy sources."