Amp Energy India on Wednesday announced its plans of manufacturing 1.2 GW solar cells and modules.
The plan will be implemented through a joint venture company in partnership with Websol Energy Systems, Amp Energy India said in a statement.
"Amp Energy plans JV with Websol Energy for 1.2 GW solar module and cells production. It is proposed to set up the (module and cell) unit in a JV company in which Websol will hold 51 per cent and Amp Energy will hold the 49 per cent," it said. The companies have already entered into a term sheet for establishment of a JV for production of monocrystalline PERC (Passivated Emitter and Rear Contact) solar cells and modules in two phases of 600 MW each at Websol's existing unit at Falta in West Bengal.
The term sheet is subject to both parties agreeing on certain commercial terms and definitive agreements, according to the company statement. "This partnership with Websol Energy will go in a long way to ramp up India's solar module manufacturing capacity in the coming years. We believe that our entry into manufacturing would not help in backward integration but also help us have better control over supply chain of critical components," Pinaki Bhattacharyya, MD and CEO of Amp Energy India, said.Amp Energy India is a renewable energy independent power producer with a total portfolio of over 2 gigawatts (GW) spread across 15 states in the country.