In late December, we reported that British Petroleum is exiting the solar business by closing BP Solar.
At the time, we reported they would continue their joint venture in India with Tata Power, which began back in 1989, but that situation has changed.
Tata now says it will buy BP’s 51% share in Tata BP Solar India Ltd, which is India’s third largest solar manufacturer, with 125 megawatts (MW) of capacity. The company makes solar panels and offers solar systems design services.
Tata BP says it’s touched the lives of some 14 million people through village lighting, water pumping as well as for businesses such as telecommunications, railways, banks, and other venues. The company has 8 regional offices and 150 dealers and service centers.
Tata Power is India’s largest private sector utility with 3628 MW of capacity of over 3628 MW, which includes thermal, hydro, solar and wind.
India’s National Solar Mission, which includes a feed-in tariff and other policy incentives for indigenous manufacturers and developers, it is setting the stage for a boom in solar.
India’s solar market is forecast to grow from just 54 megawatts (MW) in 2010 to over 9 gigawatts (GW) by 2016 – astounding growth!
Learn more about India’s National Solar Mission: