CleanBeta

India’s Solar Energy Market Gets Boost from U.S. Solar Start-Up

Clear Skies Solar, has finalized a $20 million agreement with Power Cube, an energy company based in Utter Pradesh, India to develop and construct the first of several solar energy projects in India.

The project marks Clear Skies Solar’s first foray into international energy markets. If the venture can successfully finance the deal, it will ultimately design and construct a multi-megawatt solar power system capable of generating up to five megawatts of solar power.

“We recognize that the continued use of fossil fuels negatively impacts both the economy and the environment,” said Power Cube Chairman Mohan Kejriwal. “As such, Power Cube is determined to meet a portion of India’s energy requirements by developing several large solar photovoltaic projects (PV Projects) which will generate electricity from sunlight.”

“India represents the first of many untapped markets that Clear Skies Solar plans to enter in 2008 and 2009,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs.”

Read the press release . . .