Solar module manufacturer Vikram Solar on Monday said it has concluded an agreement with British Solar Renewables (BSR) to supply modules with a total output of 30 MW.
"BSR will be installing the PID-resistant Eldora Ultima modules in their upcoming solar parks with a total output of 80 MW, to be finished by the end of March 2016," Vikram Solar said in a statement. "Macquarie Bank has agreed to provide the financial backing for the projects," it said.
"Before signing the supply agreement, British Solar Renewables conducted due diligence on both Vikram Solar and the Eldora Ultima modules," it added. "Vikram Solar's tier 1 status, the financial stability of the Vikram Group and the technical quality of the products were among the decisive criteria in favour of the collaboration," it said adding that the supplementary reinsurance from solar will cover replacement modules as needed.
"The collaboration with British Solar Renewables fits well with our goal of making Vikram Solar modules available across the market and recruiting the best partners in each market segment," Vikram Solar MD and CEO Gyanesh Chaudhary said in a statement. "In Vikram we have found a technology partner who meets our high engineering standards while being cost-efficient," British Solar Renewables CEO Angus MacDonald said.
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