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Signet Solar plans $2 billion 10-year expansion in India |
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Jun 08, 2007 at 01:48 PM |
 Thin-film silicon solar photovoltaic module manufacturer Signet Solar has announced plans to ultimately produce 1 gigawatt (GW) in annual production of solar modules over the next ten years at a new plant to be built in India at an estimated final cost of approximately $2 billion U.S. dollars.
"The announcement by Signet Solar to expand its production capacity will significantly contribute to our plans to accelerate semiconductor and information technology (IT) hardware manufacturing in India," states Thiru A. Raja, India's Honorable Union Minister of Information Technology. "Combined with our highly skilled workforce, India has an opportunity to be a leader in using technology to address pressing global energy needs."
"We are convinced that India is ideal for manufacturing the world's lowest cost solar modules," said Dr. Prabhu Goel, Chairman and Founder, Signet Solar. "With its manufacturing prowess and vast need for energy, we consider India key to bringing Clean Affordable Renewable Energy, via thin film solar modules, to our customers."
The initial production line will have a capacity of 60 megawatts. Signet Solar's India announcement comes on the heels of plans announced last month for a manufacturing and development plant to be built in Dresden, Germany (pictured). Timing and location of the India plant were not disclosed.
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