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Adani Power is planning to buy Chinese solar panels for a 50-megawatt power project currently under construction in India, Adani CEO M.V. Rabade told China.org.cn at the China-India Development Forum in Beijing on Tuesday.
Adani Power, part of the Adani Group, is one of the first Indian companies to enter the power sector in China. It now has offices in Beijing, Chengdu and Shanghai.
Compared with similar western equipment, Adani can buy Chinese solar panels for a much cheaper price and the delivery period is at least one year shorter. “One year can make a lot of differences for business development,” said Rabade.
A number of meetings have been made between Adani Power and its Chinese supplier. An agreement is expected to be reached in the next three months.
According to a recent report from The Financial Times, Chinese companies are building US$7 billion of power plant equipment for Indian customers.
After several Indian software developers scored big in the Chinese market, more companies are now eyeing trade opportunities in China, the largest market with the largest labor force in the world.
The year 2010 marks the 60th anniversary of China-India diplomatic relations. The China-India Development Forum was held in honor of the anniversary and aims to encourage the development of bilateral ties.