Published on May 28th, 2015 | by Smiti1
JA Solar Plans 500 MW Solar Modules Facility In India
May 28th, 2015 by Smiti
Chinese solar PV cells and modules manufacturer JA Solar has announced plans to enter the Indian market.
JA Solar has signed an agreement with India’s Essel Group to set up a manufacturing facility for solar cells and modules. The facility will have an annual production capacity of 500 MW worth of solar cells and modules every year.
The joint venture will invest an estimated $150 million in the production company, of which about $30 to 45 million will be equity funding. The agreement was signed during the Indian Prime Minister Narendra Modi’s visit to China, and will contribute to Indian government’s ‘Make In India’ campaign.
India is planning to add about 97 GW of solar power capacity over the next 7 years, a majority of which will be based on solar PV power technology. The Indian government will also push developers to set up a portion of that capacity using modules manufactured in India only.
The Indian government has already issued several tenders that obligate developers to use only Indian-made modules.
The production facility is very likely to supply modules for the solar power projects being planned by the Essel Group. Essel Infraprojects Limited, an Essel Group subsidiary, has pledged to set up 12 GW of renewable energy capacity over the next seven years, including 7.5 GW of solar power capacity, 4 GW of wind energy capacity, and 500 MW of other renewable energy technologies.
Essel Infraprojects Limited has signed an agreement with the government of Rajasthan to set up a large-scale solar power project worth $660 million. The company is also working on a 500 MW solar photovoltaic power project in the southern state of Tamil Nadu.
Earlier this year, SunEdison announced a partnership with Adani Power to set up India’s largest modules manufacturing unit worth $4 billion.