First Solar invests $700 mn in India's first integrated solar plant

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First Solar invests $700 mn in India's first integrated solar plant

First Solar invests $700 mn in India's first integrated solar plant

Industry News
Jan 17,24

The facility is geared towards producing the company's 'Series 7' Photovoltaic (PV) solar modules specifically for the Indian market.

First Solar invests $700 mn in India's first integrated solar plant

First Solar, a US-based company, announced a $700 million investment in establishing India's inaugural integrated solar manufacturing plant in Tamil Nadu, which was officially inaugurated on Thursday. The facility is geared towards producing the company's 'Series 7' Photovoltaic (PV) solar modules specifically for the Indian market. According to a statement, the plant has generated direct employment opportunities for approximately 1,000 individuals.

The inaugural ceremony featured TRB Rajaa, Tamil Nadu's Minister for Industries, Promotions, and Commerce, as the chief guest. Notable attendees included Eric Garcetti, the United States Ambassador to India, and Scott Nathan, Chief Executive Officer of the US International Development Finance Corporation (DFC).

The manufacturing facility, recognized for its commitment to sustainability and advanced manufacturing practices, has significantly contributed to the creation of high-value jobs within the state. Rajaa emphasized the plant's role in supporting India's goal of achieving self-sufficiency in solar technology.

Garcetti praised the production facility, highlighting its impact on advancing the global transition to cleaner, greener energy. He emphasized that the collaboration between the United States and India, spanning both government and private sectors, exemplifies successful, enduring climate action.

The statement noted that with an investment of approximately $700 million, this facility marks First Solar's sixth operational factory, extending the company's global manufacturing presence to four countries, including the United States, Malaysia, and Vietnam.

The Series 7 modules manufactured at the plant boast impressive environmental credentials, using 50% less energy and only a third of the water compared to polysilicon modules produced in China.

Source: Business Standard