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First Solar aims to retain 15-20% market share in India

The Indian arm of US-based First Solar hopes to retain 15-20% share in the country's high-efficiency, thin-film solar modules market.

Historically, the company had between 15-20% share of the market. So, our goal would be to maintain the market share leadership in India on the strength of our technology. The company recently became the largest supplier of thin-film PV modules with shipment aggregating 1 GW. The company has tie-ups with solar developers including Azure Power, Renew Power, Reliance Powerbase 2.33 %, Mahindra Solar One, Green Infra, Adani Power, Acme, Fortum, CESC and Bhoruka Power. 

First Solar's business model for India includes developing its own utility scale projects by securing power purchase agreement allocations in the capacity auctions. As a developer, the company brings its own capital to create the asset and mitigate development, construction and financing risks on a solar PV power plant, and once completed, offer the power plant to a class of investors seeking predictable yield generating returns. 

The Nasdaq-listed company offers thin-film modules that have higher conversion efficiency and requires lesser land per MW, compared with poly silicon-based modules. "Our customers are benefitting from differentiated technology that has proven its superior energy yield by delivering 5-9% more energy, higher energy for the same installed capacity as compared to silicon based modules."

 

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