Vacuum technology and solar equipment firm Hind High Vacuum Company (HHV) expects the growing momentum for harnessing power through solar sources in India and overseas markets to drive growth for the company in the coming years. The company expects at least a three-fold growth to reach a turnover of Rs 500 crore over the next two years with major growth coming from solar business.

The company, which supplies total turnkey lines for manufacture of thin film solar modules, has just secured a major deal with Canadian renewable energy house Solar Source Corp to provide its solutions, in a significant development where Indian expertise will be used in a $240 million project, which will make solar photovoltaic (SPV) modules.

Under the agreement between HHV and the Canadian firm, the first amorphous silicon solar panel manufacturing plant based on HHV technology will set up in Canada. The capacity of the proposed facility will be 120mw and it is to be set up in four phases. With 30mw capacity coming in Phase 1, the plant will make solar panels for the building — integrated, ground-mount and commercial rooftop markets.

Besides this thin film solar panel making unit, a proposal to build crystalline silicon solar panel manufacturing facility in Ontario, Canada with a capacity of 120mw has also been worked out. The total investment of the two projects would be about $240 million. “Our SPV modules will be compliant with IEC and UL standards for photovoltaic design and safety,” Prasanth Sakhamuri, managing director of HHV said.

balachandarg

@mydigitalfc.com