Rolta Power today said it has partnered with Chinese firm Zhenfa New Energy Science and Technology to jointly develop solar power projects in India.
"Rolta Power and China-based Zhenfa New Energy Science and Technology have signed an MoU to conduct and capitalise on joint EPC opportunities and project developments in the flourishing solar industry of India," the company said in a statement.
The partnership will allow Rolta to share revenue with Zhenfa, which is a win-win for both, Rolta Power Managing Director Aditya Singh said.
"With our 2020 vision, we believe that through this partnership, we can together install at least 2,000 MW by 2020 and generate revenues of around USD 2.03 billion or over Rs 13,100 crore," Singh said.
The government has set a target of 1,00,000 MW solar capacity by 2020.
Commenting on the partnership, Zhenfa Chairman Zhenfa Zha said, "We have been exploring the Indian market for some time. We will bring our extensive EPC skills and advanced technologies to construct utility scale solar stations supplying electricity and play an essential role to help alleviate the severe shortage of power supply.
