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A joint venture (JV) between Amp Energy India and Websol Energy Systems has been announced for the manufacture and production of up to 1.2 GW of monocrystalline PERC solar cells and modules.
In order to form a Joint Venture (JV) for the production of monocrystalline PERC solar cells and modules over two phases of 600 MW each at Websol’s current facility in Falta, West Bengal, the firms have signed a Term Sheet.
With its foray into manufacturing, the corporation will be better able to manage the supply chain for essential components.
The project will have an off-take agreement with Amp Energy India for up to 50% of production, and it will be financed with a combination of debt and equity. The remaining products will be sold in the market, helping to close the supply-demand gap for cells and modules in the Indian market.
“There is a need for solar cells made in India, and with supportive legislation in place, manufacturing prices would also decrease as the industry grows and becomes more competitive. Our involvement into manufacturing, in our opinion, would not only aid in backward integration but also give us better control over the supply chain for vital components. Amp Energy India’s MD & CEO, Pinaki Bhattacharyya, stated.
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