New Delhi US-based First Solar, which has mainly operated as a project contractor in Indian solar power market so far, is now looking at a second business model based on development of solar power plants for subsequent sale to an equity investor or an independent power producer (IPP).

The world’s largest supplier of thin-film modules for solar plants has successfully applied this business model in the US market. Major equity players like GE Energy Financial Services and Mid-American Energy, a fund owned by Warren Buffett’s Berkshire Hathaway, have shown interest in picking up equity in projects being developed by First Solar.