First Solar Invests $700 Million in India’s First Integrated Solar Manufacturing Plant in Tamil Nadu

Share via:

US-based First Solar has announced a significant investment of $700 million in establishing India’s maiden integrated solar manufacturing facility in Tamil Nadu, which was inaugurated on Thursday. With an annual capacity of 3.3 gigawatts (GW), the plant is situated in Tamil Nadu and will focus on producing the company’s ‘series 7’ Photovoltaic (PV) solar modules tailored for the Indian market. The facility has already generated employment for approximately 1,000 individuals, according to a company statement.

The inauguration ceremony witnessed the presence of Tamil Nadu’s Minister for Industries, Promotions and Commerce TRB Rajaa as the chief guest, alongside United States Ambassador to India Eric Garcetti and Chief Executive Officer of the US International Development Finance Corporation (DFC) Scott Nathan. Highlighting its sustainability and advanced manufacturing capabilities, the factory is anticipated to contribute to the creation of high-value jobs in the region. Minister Rajaa emphasized that the facility aligns with India’s goal to achieve self-sufficiency in solar technology.

Ambassador Garcetti praised the plant, noting its role in advancing the global shift towards cleaner energy and showcasing the potential of collaborations between the US and India across both public and private sectors for sustainable climate actions. The statement from First Solar highlighted that this new facility marks the company’s sixth operational factory globally, expanding its manufacturing footprint to four countries, including the United States, Malaysia, and Vietnam.

Moreover, the company emphasized the environmental benefits of its Series 7 modules, which reportedly consume 50% less energy and only a third of the water compared to polysilicon modules manufactured in China. This investment reflects First Solar’s commitment to sustainable manufacturing practices and its contribution to India’s renewable energy ambitions.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

First Solar Invests $700 Million in India’s First Integrated Solar Manufacturing Plant in Tamil Nadu

US-based First Solar has announced a significant investment of $700 million in establishing India’s maiden integrated solar manufacturing facility in Tamil Nadu, which was inaugurated on Thursday. With an annual capacity of 3.3 gigawatts (GW), the plant is situated in Tamil Nadu and will focus on producing the company’s ‘series 7’ Photovoltaic (PV) solar modules tailored for the Indian market. The facility has already generated employment for approximately 1,000 individuals, according to a company statement.

The inauguration ceremony witnessed the presence of Tamil Nadu’s Minister for Industries, Promotions and Commerce TRB Rajaa as the chief guest, alongside United States Ambassador to India Eric Garcetti and Chief Executive Officer of the US International Development Finance Corporation (DFC) Scott Nathan. Highlighting its sustainability and advanced manufacturing capabilities, the factory is anticipated to contribute to the creation of high-value jobs in the region. Minister Rajaa emphasized that the facility aligns with India’s goal to achieve self-sufficiency in solar technology.

Ambassador Garcetti praised the plant, noting its role in advancing the global shift towards cleaner energy and showcasing the potential of collaborations between the US and India across both public and private sectors for sustainable climate actions. The statement from First Solar highlighted that this new facility marks the company’s sixth operational factory globally, expanding its manufacturing footprint to four countries, including the United States, Malaysia, and Vietnam.

Moreover, the company emphasized the environmental benefits of its Series 7 modules, which reportedly consume 50% less energy and only a third of the water compared to polysilicon modules manufactured in China. This investment reflects First Solar’s commitment to sustainable manufacturing practices and its contribution to India’s renewable energy ambitions.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Accenture quarterly earnings: Accenture quarterly numbers point to strong...

India’s $254-billion technology outsourcing industry, key to helping...

Securitize proposes BlackRock BUIDL fund as collateral for Frax...

According to RWA.XYZ, BlackRock's US dollar Institutional Digital...

iPhone 17 Air suddenly makes a lot more sense...

Last week, The Wall Street Journal reported that...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!