New Delhi: The first solar based in the US on Friday said it would invest to invest $ 684 million, or approximately Rs 4,965 Crore, in India to build a solar PV (photovoltaic) module with a capacity of more than 3 gw (gigawatt) on Tamil Nadu.
The company expects facilities to be operational in the second half of 2023, creating 1,000 jobs in this country.
Indian expansion is part of the company’s plan to double its manufacturing capacity to 16 GW in 2024 and make it the largest module manufacturer in India.
This is the second announcement of the plan for making domestic solar modules of size I follow the government’s (performance related incentives) scheme to promote domestic manufacturing.
Reliance Industries Ltd.
recently announced a $ 10 billion green energy plan that includes preparing an integrated module for giga size module.
Industrial Analyst said this announcement could encourage Chinese modules, which dominated the Indian market, to consider manufacturing in India considering its ambition to create a 450 GW renewable energy capacity in 2030.
The company said the facility would be established for facilities recently announced in Ohio , “India is an interesting market for the first solar not only because our module technology benefits in a hot and humid climate.
This is a market that is inherently sustainable, supported by a growing economy and appetite for energy, with good-defined objectives that will requires more than 25 GW diesel fuel to deploy every year for the next nine years, “according to CEO CEO Widmar.
“Most importantly, he has combined its clean energy targets with effective trade and industrial policies designed to enable manufacturing of independent domestic and true energy security.
We also have many old consumers in countries that will be happy to have access to advanced photovoltaic modules, which are Made in India, for India, “Widmar added.
The company has so far provided nearly 2 solar modules to projects in India, which is the second largest market after North America.