Tamil Nadu

U.S.-based First Solar to invest $684 million in Tamil Nadu

American solar technology company First Solar has said it will invest $684 million in a new, fully vertically integrated photovoltaic thin film solar module manufacturing facility in Tamil Nadu.

The facility is projected to have a capacity of 3.3 gigawatts and will commence operations in the second half of 2023. This is contingent upon pending approval of the Indian government incentives that are satisfactory to First Solar, the company said in a statement.

In December 2020, First Solar signed an MOU with the then AIADMK government for investing ₹4,185 crore in a manufacturing facility with a potential for 1,076 jobs. “India is an attractive market for First Solar, and not simply because our module technology is advantaged in its hot, humid climate. It is an inherently sustainable market, underpinned by a growing economy and appetite for energy, with a well-defined goal that will need over 25 GW of solar to be deployed every year for the next nine years,” said Mark Widmar, chief executive officer, First Solar.

“India stands apart in the decisiveness of its response to China’s strategy of state-subsidised global dominance of the crystalline silicon solar supply chain. The country’s comprehensive approach provides the kind of level-playing field needed for non-Chinese solar manufacturers,” he said.

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Printable version | Sep 18, 2021 5:48:26 AM | https://www.thehindu.com/news/national/tamil-nadu/us-based-first-solar-to-invest-684-million-in-tamil-nadu/article35642850.ece

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