From pv magazine India
Amp Energy India, an Indian renewable energy developer, has partnered with Websol Energy System to produce up to 1.2 GW of monocrystalline PERC solar cells and modules.
The two companies will form a joint venture for PV production. Cells and modules will be produced in two phases of 600 MW each at Websol’s existing unit at Falta in West Bengal, said Amp Energy India, as it announced the signing of a term sheet for the establishment of the joint venture.
Amp Energy India said its entry into PV manufacturing will help it to better control the supply chain for critical components. Websol will hold a 51% stake in the venture, while Amp Energy will own the remaining 49%.
The project will be financed via a combination of debt and equity. It will supply up to 50% of its output to Amp Energy India under an off-take agreement. The rest of the power will be sold on the market, in order to fill the demand-supply gap for cells and modules in India.
Amp Energy India said it has a renewable energy portfolio of more than 2 GW across 15 states in India.
“We believe that our entry into manufacturing would not only help in backward integration but also help us have better control over the supply chain of critical components,” said Pinaki Bhattacharyya, MD and CEO, Amp Energy India. “We have always supported the government’s Atmanirbhar Bharat initiative by generating renewable energy in India, and this natural progression into manufacturing is also an extension of our support.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
3 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.