Vikram Solar to Establish Manufacturing Facility Worth 3 GW in Tamil Nadu

The facility would be involved in the manufacturing of solar wafers, cells, and modules. Vikram Solar signed a Memorandum of Understanding concerning this with the state government of Tamil Nadu

July 22, 2020. By News Bureau

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Vikram Solar has announced that it is planning to set up a 3 GW solar manufacturing facility in Tamil Nadu, which it anticipates to complete in five years.

The facility would be involved in the manufacturing of solar wafers, cells, and modules. Vikram Solar signed a Memorandum of Understanding concerning this with the state government of Tamil Nadu.

The company added that this was in line with the Prime Minister’s vision for Atma Nirbhar Bharat. This comes after ReNew Power’s announcement to capitalize about Rs 20,000 crore for setting up a 2-GW manufacturing facility for cells and modules, however, it had further that the location was yet to be finalized and the company was still in talks with some states.

The government is campaigning for a self-reliant India to reduce its import dependence, boost local manufacturing, and increase jobs in the wake of the COVID-19 pandemic and the recent India-China border tensions.

According to KPMG in India assessments, renewable energy manufacturing can create over one million jobs by 2025 and be an export-oriented industry if India gets the scale and cost model right.

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