Adani Enterprises Ltd has secured approval from the Gujarat government to begin work on set up a solar power equipment plant.
The project has started and work is on the first phase and is expected to be commissioned by the end of this year. The Adani Group plans to invest $2 billion in this project to make solar panels and solar photo-voltaic cells. The plant will produce polysilicon, wafers, cells and modules. Adani Enterprises has set up its arm Mundra Solar PV Ltd. for the project.
The plant will be developed over a period of three years. Mundra Solar PV aims to complete phase 1 of the project by the end of this year. The total cost of phase 1 is about Rs.2,000 crore. The initial phase will include setting up a solar cell and module plant with a capacity of 1,200 megawatts (MW), The facility will produce about 100MW of modules and photovoltaic cells per month, according to the project details submitted to the state government.
“This facility will vertically integrate all aspects of solar panel production on site, including polysilicon refining, ingots, wafers, cells and panels production, with a broader ecosystem involving extended supply chain for raw materials and consumables. Adani, which was in talks with SunEdison and Foxconn for a joint venture, has decided to go solo, according to the proposal submitted to the state.” according to the project details document with the state.
The second phase will see the firm setting up a solar panel manufacturing plant with an overall capacity of 3,000MW. In the third phase, the firm will produce polysilicon with a total planned capacity of 10,000 tonnes.