P2 Solar, Inc. (PTOS) Stands to Benefit from Initiatives by P2 Solar, Inc. (PTOS) Stands to Benefit from Initiatives by India’s Newly Installed Prime Minister
Renewable energy company P2 Solar, a developer of solar photovoltaic (PV) power and mini-hydro projects, is operating under an aggressive, management-ordained mandate to develop 150MWp of electricity-generating capacity in the next few years.
P2 Solar’s current project portfolio includes the company’s Rajgarh small-hydro site, located on the Sidhwan irrigation canal in Punjab, India, which is upstream from the company’s Project Tibba mini-hydro site. Together, the company believes that these two projects, when fully operational, will generate annual revenues of more than $700,000. These projects represent P2 Solar’s first significant projects under development in India.
In regards to the Rajgarh Hydro Project, P2 Solar recently signed an implementation agreement with Punjab Energy Development Agency (PEDA), Punjab State’s governing authority on all renewable projects, in which the company now has permission to operate and maintain the project and to use the canal water for power generation for 35 years.
After thermal energy, hydropower electricity is the second-most important source of energy, according to DTA Consulting. P2 Solar is strengthening its foothold in the renewable energy as India’s newly installed Prime Minister, Narendra Modi, begins laying the groundwork for an upgrade of the country’s overworked energy market with a focus on a range of renewable energy sources.
In earlier years, the Indian government has taken steps to accelerate hydropower development, and Prime Minister Modi earlier this week breathed new life into the initiative by agreeing to build four new joint-venture hydropower projects in Bhutan.
As the demand/supply gap of power in India continues to grow, along with a growing population and economy, P2 Solar is in an incredible position to leverage government initiatives and support to achieve its power generation goals.
For more information visit www.p2solar.com
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