First Solar plans $684 mn investment in TN facility
US solar panel maker First Solar, Inc. on Friday said it will invest $684 million to build a 3.3 gigawatt (GW) solar module plant in Tamil Nadu, in yet another example of India’s import barriers on solar gear inspiring local manufacturing.
Apart from Mukesh Ambani controlled Reliance Industries Ltd’s plans to set up an integrated solar photovoltaic (PV) module gigafactory, Vikram Solar recently opened a 1.3GW plant in Tamil Nadu, and Premier Energies set up a 750 megawatt (MW) each of solar cell and module capacity in Telangana.
Mint had reported on December 17 about First Solar being among firms that are considering building solar equipment manufacturing facilities, capitalizing on the Indian government’s initiative to push local manufacturing.
