SunBorne Energy may secure $20 mn for investing in India

CHENNAI: SunBorne Energy, which has got two solar projects in the country, has told the US Securities and Exchange Commission that it is hoping to secure $20 million. It stated that it has already secured $5 million.

SunBorne Energy is funded by Khosla Ventures and is promoted by US-based billionaire venture capitalist Vinodh Khosla.

SunBorne got a 15-MW solar PV plant in Gujarat. During the early part of this year, it bagged 5-MW solar PV project in Rajasthan under the Phase I of the National Solar Mission. Recently, it bagged a bid to establish 10-MW solar thermal project in Karnataka.

SunBorne is planning to establish 1,00-MW solar project in India. It would try to attain grid parity (or sell solar power at the same price as conventional power) by 2014.

Last year, SunBorne forayed into a pact with the Chinese firm, Suntech Power, for supplying solar panels of 100 MW for projects in the country.