Vikram Solar And British Solar Renewables Sign Deal
Solar module manufacturer Vikram Solar has concluded an agreement with British Solar Renewables (BSR), a British project developer, to supply modules with a total output of 30 MW. BSR will be installing the PID-resistant Eldora Ultima modules in their upcoming solar parks with a total output of 80 MW, to be finished by the end of March 2016. Macquarie Bank has agreed to provide the financial backing for the projects.
Before signing the supply agreement, British Solar Renewables conducted due diligence on both Vikram Solar and the Eldora Ultima modules. Vikram Solar's tier 1 status, the financial stability of the Vikram Group and the technical quality of the products were among the decisive criteria in favour of the collaboration. Supplementary reinsurance from Solarif will cover replacement modules as needed.
Angus MacDonald, CEO at British Solar Renewables: "Based on the precise, power-optimized string-layout in our solar parks, the performance is far above average, which makes it extremely attractive to our investors and future buyers. In Vikram we have found a technology partner who meets our high engineering standards while being cost-efficient. The Vikram brand is also recognized across the industry, which makes it easier to resell the solar parks upon completion."
Gyanesh Chaudhary, MD and CEO of Vikram Solar adds: "We already supply the UK's largest builders' merchant, EH Smith, and the country's largest electrical wholesaler, Edmundson Electrical. The collaboration with British Solar Renewables fits well with our goal of making Vikram Solar modules available across the market and recruiting the best partners in each market segment."
