US firm Triton Solar in association with Arreda Homes Pvt Ltd. plans to set up an assembling plant for solar power storage batteries in Amaravati, Andhra Pradesh.
The joint venture would entail other projects including those to manufacture batteries eventually, MD of Arreda Homes Nagarjun G.V. Rao said here on Friday. Accompanied by CEO and founder of Triton, Himanshu B. Patel, he said during an interaction in the city that four acres were available for the proposed facility. The project would be a components of the $150 million investment the joint venture intends for Andhra Pradesh.
The company intends to make a similar investment in Telangana too, he said, hoping for the assembling plant in AP to start functioning by September.
The New Jersey-based Triton, which produces solar cells, flexible lighting and batteries, plans to set up a manufacturing facility in India after a year. The company deploys nanotechnology to create printable solar panels.
On the market for the products in India, Mr.Patel and Mr.Rao said the scope was huge and discussions were under way with several prospective customers for the batteries, especially hospitals.
