Canasia has committed to develop very significant solar capacity in India. Given the higher tariff rates that are prevalent, especially for back up energy systems, in particular diesel, India is an ideal country for solar energy with 300 days of sunshine annually, one of the highest insolation levels in the world (5.5-6.4kw/sq.m/day (See map - "Insolation Levels in India")), Pricing of solar energy on a per kilo watt hour basis is already on par with diesel backup generation, to-date there is minimal Solar energy developed in India and the Government of India has committed through the ‘National Solar Plan’ to install 20,000MW of solar power by 2022.

500MW of Solar Energy Development:

After the introduction of the ‘National Solar Plan’ by the Government of India in early 2009, the Company asked for and received a ‘Letter of Support’ from the Ministry of New and Renewable Energy, (“MNRE”) Government of India, to develop 500MW of solar power in the Country.