Sunedison And Adani Jv To Build Solar Pv Manufacturing Facility In India

Solar PV PanelIN BRIEF The world's leading solar technology provider SunEdison, and Adani Enterprises, India's largest private power company, on 11 January announced that they have signed a memorandum of understanding (MoU) to establish a JV to build the largest integrated solar photovoltaic (PV) manufacturing facility in India with an investment of up to US4 billion. The PV manufacturing facility, to be set up at Mundra in Gujarat state, will produce ultra-low cost solar panels to drive solar energy growth in India, helping it achieve its targets for renewable energy. The plant will also create 4,500 direct jobs and over 15,000 indirect jobs in the process for the local economy, said Ahmad Chatila, president and CEO of SunEdison. The facility will be built over a three year period and will vertically integrate all aspects of solar panel production on site, including polysilicon refining, production of ingots, wafers, cells, panels and modules, with a broader ecosystem involving an extended supply chain for raw materials and consumables. During the first half of 2015, SunEdison and Adani will conduct a comprehensive analysis of the JV opportunity and business plan, which will than be followed by construction of the facility. India has embarked on an ambitious programme to become a world leader in renewable power generation, and sees solar as a key part in reaching that goal. Prime Minister Narendra Modi's government has substantially revised its earlier solar energy target of achieving 20,000 MWe capacity by 2022 to 100,000 MWe, in addition to installing 60,000 MWe of wind power capacity. The plan calls for an overall investment of around US150 billion in the renewables sector. It also requires the creation of large-scale, advanced solar equipment manufacturing capacities within India. The post SunEdison and Adani JV to build solar PV manufacturing facility in India appeared first on Intersect Insight.

Origin: altenergyprograms.blogspot.com