Solar Phl eyes Indian market

Solar Philippines is eyeing to penetrate the Indian market as it participates in public tenders to develop around 500 megawatts (MW) of solar farms, its top official said.

Solar Philippines founder and president Leandro Leviste said the company is prioritizing countries with competitive bidding processes for power suppliers as it charts its expansion outside the country.

“We’re prioritizing countries where there is a competitive selection process for power suppliers because we believe that that is where we’re most competitive,” he said, noting that is where the company is most competitive in.

One of the countries being looked at is India, where the company plans to take advantage of the tariffs imposed by government on Chinese and Malaysian solar panel manufacturers.

“We’re participating in some process in India right now and are aiming to have our first contract signed within this year,” Leviste said.

“I’ll also note that one of the reasons why we’re very bullish in India right now is the government is imposing tariffs on Chinese and Malaysian panels. The Indian solar panel manufacturers, but also non-Chinese and non-Malaysian solar panel manufacturers, will greatly benefit from this,” he said.

The company official said the country is aggressively laying down solar capacity targets. By 2022, it is looking at 100,000 MW of installed solar capacity and is targeting to increase it to 700,000 MW by 2030.

“If we can get one percent of that, that’s already much bigger than what’s in the Philippines. That’s why India is really a role model for the entire world on how a regime of competitive tenders with large volume can encourage the renewable energy industry to stop being dependent on government subsidies but to lower the cost of solar energy,” Leviste said.

In terms of capacity target in India, Solar Philippines is targeting to install more or less 500 MW of solar farms, which it will be pursuing on its own.

“The wonderful thing about India is perhaps it’s the most open market in the world. You don’t need local partners, you don’t need any local connections,” Leviste said. “We’re targeting in the neighborhood of 500 MW of PPAs (power purchase agreements) signed in India within the next year.”

Leviste said the capacity target would also be dependent on the solar investment environment in the Philippines.