Starlit Power may bid for solar parks with Chinese partner Dynavolt Power
Delhi based automotive, solar and inverter battery maker Starlit Power Systems said it plans to bid for solar parks in India in partnership with China’s Guangdong Dynavolt Power Technology.
“We are a government-approved manufacturer of solar batteries and Dynavolt has a solar panel manufacturing unit under one of its group companies,” said Sachin Shridhar, founder-chairman of Starlit Power. “Unlike other solar independent power producers, which buy solar batteries and panels from outside, we have an in-house capacity to supply these products.”
Shridhar said Starlit and Dynavolt are considering bidding for over 20 MW solar projects as part of their plan to enter India’s renewable energy sector.
He said Starlit has signed a memorandum of understanding with Dynavolt to bring packaged off-grid solar solutions to the Indian market. The two companies are working out details of the proposed joint venture, which they plan to finalise in six to nine months, Shridhar said.
Starlit and Dynavolt have entered into an agreement where the Chinese company will acquire 24 per cent stake in Starlit at RMB 5 million (over Rs 5 crore). Starlit will utilize the funds for expanding capacity for manufacturing UPS and motorcycle batteries at its plant at Sohna in Haryana, said Shridhar.
Source: Economic Times