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GUJARAT BRANCH
US Solar Power Firm Akida
Looking for Partners
The Gujarat Branch organized an interactive
meeting with a three-member visiting team
from Akida Holdings, LLC & Akida Solar
Partners of the United States, on 26 October
2010 with its members. The team members
made a presentation on solar power and
technologies available with them.
The Akida team informed the members that
they are extremely optimistic about bringing
dynamic technologies available in the US
solar power industry. This could make Gujarat
an innovative trend-setter for the rest of India
to follow, they said. Members of the
delegation said they are also looking for
suitable business partners in India, especially
Gujarat which is in line with their business
philosophy of partnering with Indian
companies. They said they are looking at a
partnership of about $20 million involving
procurement of necessary licenses and
marketing.
The three members comprised Michael K.
Freedman, Managing Partner and the
Chief Executive Officer, Tareque A.
Pirzada, President, International
Business, and Benjamin Shyman,
Chief Financial Officer. While
Freedman is primarily responsible
for the company's strategic
development and partner
relationships, Pirzada looks after
identification of potential business
partners, communicating partner
needs to corporate marketing and
operations staff and ensuring the
successful deployment of Akida's
technology in new markets.
Shyman has 14 years' experience in
financial and economic analysis of
traditional and renewable energy
projects and markets and he provides
financial models and analysis for internal use as well as for
clients, developers, lenders and investors.
The team members said they were considering Gujarat as the
new solar power hub. Their company Akida Holdings is
dedicated to green technology. Akida technology is spreading
throughout US. Previously, they were running an investment firm
for power projects. Their NASA technology has been successfully
implemented in Kochi, which is specifically designed for India.
They also informed that Indian government is projecting 20 gig
awards in the next decade. They will try to get at least five of them.
The technology is such that it detects the position of the sun and
adjusts the solar panel accordingly. They also explained about
'power tower facility'. Their technology is different as they are
using gears/drive. The drive is cylindrical and there is one air bag
on each side. Air or fluid is pumped from one bag to another
which rotates the device (drive). By putting one such device, the
parabolic mirror can be moved in all degrees at lower cost. Lots
of technical details were discussed during the presentation.
Hetal Dave, Chairman, Gujarat Branch welcomed the delegates
followed by an introduction by Himanshu Vyas, past Chairman,
IACC-Gujarat Branch.
L to R: Himanshu Vyas (Imm. Past Chairman), Michael Freedman, Hetal
Dave (Chairman), David Kight & Tareque Pirzada.
INDO-US BUSINESS SPECIAL ISSUE
70