NEW DELHI: US-based First Solar on Friday said it will invest invest $684 million, or roughly Rs 4,965 crore, in India to build a solar PV (photovoltaic) module manufacturing plant with more than 3 GW (gigawatts) capacity in Tamil Nadu.
The company expects the facility to become operational in the second half of 2023, creating 1,000 jobs in the country.
The India expansion is part of the company’s plan to double its manufacturing capacity to 16 GW by 2024 and make it the largest module manufacturer in India.
This is the second announcement of a GW-size domestic solar module making plan following the government’s PLI (performance-linked incentive) scheme for promoting domestic manufacturing.
