Phase two of the agreement provides for the establishment of a complete backend module assembly plant in India, and the third and final phase of the contact is designed to expand production in India to include complete end to end module manufacturing. This agreement results from the collaboration achieved thus far under a memorandum of understanding signed in September of 2009 between the two companies.
L Joshi, CEO of Kirloskar, said: “Kirloskars’s vision is to provide decentralized sustainable solutions based on renewable resources. Having successfully established energy solutions using technologies like anaerobic digestion of organic waste and non-edible vegetable oil and biodiesel, we were in search of appropriate partner for solar photovoltaics, which can compliment Kirloskar’s strength as a leader in distributed power generation.
“We are pleased to have Ascent as our partner in the endeavor to harness the very large solar energy potential related to off-grid and on-grid applications, by taking advantage of the favorable policies of the Indian government. We truly believe that the leading-edge technology of Ascent and the synergy in our strategies will help us establish a leadership position in PV markets in India.”
