Adani Enterprises Ltd, the flagship company of infrastructure player Adani Group today said it signed a memorandum of understanding (MoU) with SunEdison Inc., a leading solar technology manufacturer and provider of solar energy services, to build the largest, vertically integrated solar photovoltaic manufacturing facility in India with an investment of around $4 billion.
The facility will create enough solar panels to fuel substantial solar growth in India, furthering India’s goals for clean, renewable energy independence, a press release from the company said.
“India has embarked on an ambitious program to become a world leader in power generation from renewable technologies, and sees solar as a key part in realizing that goal,” said Vneet S Jaain, Chief Executive Officer of Adani Power Limited, a subsidiary of Adani Enterprises Ltd.
“The development of the largest integrated solar manufacturing facility is a step towards the vision of our Prime Minister’s ‘Make in India’ campaign. We are happy to partner with SunEdison, a leading solar technology manufacturer to build this facility. This facility would further integrate our Power – Renewable business value chain and would significantly increase the socio-economic benefits,” said Mr Jaain.
