Monday 12 January 2015

$4bn solar factory to be built in India

$4bn solar factory to be built in India

The Indian state of Gujarat is set to be home to the largest solar panel manufacturing facility in the country.

Indian power generation company Adani Group and global solar manufacturer SunEdison have signed a memorandum of understanding to set up the factory, pledging to invest $4 billion (£2.6bn) in total.

The firms expect the project to create 4,500 direct and 15,000 indirect jobs.

Vneet S. Jaain, CEO of Adani Power Limited, a subsidiary of Adani Enterprises said: “India has embarked on an ambitious program to become a world leader in power generation from renewable technologies and sees solar as a key part in realising that goal.”

The new facility, which will be built in Mundra, Gujarat, is expected to be built in four years.

Written by

Bruna Pinhoni

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