MiaSolé hires 200 following signing 11.66 MW project in India

Manufacturing at MiaSole's factoryU.S.-based MiaSolé partnered with India’s KSK Energy Ventures, to build a 11.6 megawatt thin-film photovoltaic project in Rajasthan, India. The installation used MiaSolé’s copper indium gallium selenide (CIGS) thin-film photovoltaic modules. As the company ramps up production it also plans to double its staff in 2013.

The project is being developed under India’s Jawaharlal Nehru National Solar Mission, according to MiaSolé. The mission has led to an explosion in solar growth in India over the past few years, but MiaSolé said this will be one of the largest solar farms in Rajasthan, India, and likely the largest using CIGS thin-film PV.

“India represents a tremendous opportunity for renewable energy, and we are pleased to partner with a leading company like KSK in its efforts to deliver clean energy resources in Rajasthan,” said John Carrington, CEO of MiaSolé. “In 2013, we will expand our global footprint and our business model to invest in projects, acquire project pipeline and partner with leading developers and EPC companies in sustainable markets like India.” The approach sounds similar to that of thin-film PV company First Solar.

The project is being financed with $9 million of debt financing from the U.S. Export-Import Bank. “This project financing facilitates exports from MiaSolé’s California manufacturing center, will boost California's economy and help to create hundreds of local jobs,” said U.S. Export-Import Bank Chairman Hochberg. It’s the second MiaSolé project in India financed by the bank has supported.

“Ex-Im Bank’s support of MiaSolé’s technology lowers the cost of project financing, and will expand the deployment of our California-made solar modules in projects globally,” Carrington said.

The pipeline in India, also allows the company to increase production in California. MiaSolé’s currently employs approximately 200 people, it said. In 2013 however, it plans to hire over 200 more people as it expands its manufacturing, research and development and commercial activities.

MiaSolé has now completed projects in Rajasthan, Gujarat, Maharashtra and Tamil Nadu. “We are pleased to partner with MiaSolé to deliver clean energy to our customers and drive continued growth for us in this market,” said Anil Kumar Kutty, Director of KSK. “MiaSolé CIGS solar panels have proven to deliver the best solution for our project and are a compelling solution for the India market,” he says.