OCI to develop 1 GW photovoltaic power plants in China and India by 2018: Report

OCI Global Ltd. is reportedly planning to develop about 1 gigawatt of photovoltaic power plants in China and India by 2018.

The company will be investing USD 400 million for the projects, while rest of the investment will come from elsewhere said Pranab Kumar Sarmah, unit’s chief investment officer in an interview to Bloomberg in Shanghai.

The 1GW photovoltaic power project will be evenly split, with 500 megawatts of projects in each nation.

Sarmah said “manufacturing is a cyclical business and all depends on demand and the supply situation,” he further added “for the power business, if you have executed well, you can expect decent cash flows in the next 20 to 25 years.”

Last year the company completed 18 megawatts of distributed solar projects in China and is expected to complete another 100 megawatts in the country by the end of this year.