MSC Power Corp to build first solar pyramid in India

Singapore-based MSC Power Corp plans to build solar pyramids in India that use solar energy to drive turbines.

27 March 2006
PUNE, INDIA

BY OUR CORRESPONDENT

MSC Power Corp, a Singapore based technology firm, is aiming to complete construction of a small $10 million five megawatt (MW) solar pyramid by June in Pune near Mumbai that will use solar energy to power wind turbines. The company, which is looking to be listed in NASDAQ this year in an initial public offering worth $5 million, is building a sun-driven wind power station in India for the first time.

Speaking to Reuters, Chairman Steven Mok said, "We're looking at global expansion." He added, "We're planning an IPO this year that could be $5 billion and up."

While China may be its second largest potential market, Mok is looking primarily at India, where the company, which is backed by investors from the Middle East, hopes to build over 1,000 such plants over the next four years.

Both India and China are looking for ways to boost power generation, to keep apace with economic growth, and with rising oil and gas prices, renewable sources of energy have become more competitive.

The pyramid-shaped power plant works by drawing in ambient air that is heated by solar power to drive turbines. Stored water is also warmed and can reduce electricity consumption for production of cooking gas and drinking water.

Mok also said that the plant was more suitable for rural areas as it was small and generated only 36 MW. A larger coal or nuclear plant would be able to generate 1,000 MW of power.

Costs have been kept low by keeping it localized, said Mok. Although capital costs were double at $2 million per MW, running costs were lower by less than 2 per cent per kilowatt hour, which was lower than the 6-8 cents per kilowatt hour the company expected to get from selling power in India. He said, "The advantage over wind is the small space - about 3-5 per cent of the area needed for a wind farm, and the reliability of supply."

The company plans to build 10 MW power and desalination plants in Chennai, India, and in Sudan, as well as 2 MW commercial power plant prototypes in Malaysia, China, and Thailand. Each plant can take between nine months and a year to build.