Both the firms will set up a joint venture for building the facility in Mundra, located about 50km from Anjar town in Kutch district.

The plant will vertically integrate the entire features of solar panel production on site, including cells and panels production, polysilicon refining, and wafers.

The project, which will create 20,000 new jobs, is anticipated to take three to four years to complete.

Adani Power chief executive Vineet Jain was quoted by IANS as saying: "The facility will create enough solar panels to fuel substantial solar growth in India.

"India has embarked on an ambitious programme to become a world leader in power generation from renewable technologies, and sees solar as a key part in realising that goal."

SunEdison president and chief executive Ahmad Chatila was quoted by Press Trust of India as saying: "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."

India presently has a 2.7GW of solar power generation capacity. The government is planning to produce 100GW of solar capacity by 2022.

US-based SunEdison is expanding its presence in India. In October 2014, the company has signed a memorandum of understanding with the Government of Rajasthan to develop 5GW of solar photovoltaic (PV) projects.

SunEdison has also won five solar PV projects, totaling 150MW, from Karnataka Renewable Energy Development Limited (KREDL) in India.

Image: SunEdison and Adani will set up a joint venture for building a solar panel manufacturing facility in India. Photo: Courtesy of maya picture/