Essel GCL plan 5-GW solar manufacturing hub in India’s Andhra Pradesh
January 15 – India’s Essel Infraprojects Ltd has teamed up with Chinese photovoltaic (PV) material maker Golden Concord Holdings Ltd (GCL) to set up 5 GW solar module manufacturing capacity in the Indian state of Andhra Pradesh by 2020.
The companies have formed a consortium to invest USD 2 billion (EUR 1.8bn) in establishing the integrated solar manufacturing hub, Essel Group said in a press release. The partners inked a memorandum of understanding (MoU) with the Andhra Pradesh government on Thursday as part of the Partnership Summit organised by CII.
Essel and GCL also plan to set up a Smart Industrial Park, which would seek to attract USD 10 billion of investments in Andhra Pradesh by encouraging Indian and Chinese companies to set up manufacturing facilities in the park.
The solar hub is expected to create about 15,000 jobs and will supply both domestic and overseas markets. The plans not only support the Make in India initiative of the Indian prime minister but will help the country achieve its target of installing 100 GW of solar power capacity by 2022, according to the announcement.
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