Planned to be constructed in Mundra, Gujarat, over a three-year period, the solar facility will manufacture low-cost photovoltaic solar panels, which can tap sunlight and convert it directly into power at cheaper rates, reports Reuters.
SunEdison president and chief executive officer Ahmad Chatila said: "This facility will create ultra-low cost solar panels that will enable us to produce electricity so cost effectively it can compete head to head, unsubsidised and without incentives, with fossil fuels.
"By pairing SunEdison’s solar technology expertise with Adani’s extensive experience in the creation of infrastructure, we will be able to transform the region into a solar production powerhouse, creating 4,500 direct jobs and over 15,000 indirect jobs."
The team will carry out comprehensive analysis of the opportunity and business plan during the first half of 2015, prior to starting construction of the facility.
Adani and SunEdison said in a joint statement: "The facility will manufacture solar panels to fuel solar power growth in India, furthering India’s goals for clean, renewable energy independence, and will add up to 20,000 jobs to the local economy."
India is planning to achieve a target of 100GW of solar capacity by 2022, from an earlier target of 20GW, reports The Wall Street Journal.
Press Trust of India (PTI) quoted SunEdison Asia Pacific president Pashupati Gopalan as saying: "Though a part of the JV will become operational within one-and-a-half years from now, the fully integrated plant will take 3-4 years to become operational."
Image: SunEdison and Adani to develop $4bn solar PV manufacturing facility in India. Photo: courtesy of franky242/Freedigitalphotos.net.
