Lanco to set up 100MW solar unit in India
Lanco has so far invested Rs1,200 crore and plans to put in an additional Rs800 crore by the end of next year
Hyderabad: Lanco Infratech Ltd is looking at setting up a 100 MW solar cell manufacturing plant, adding to the existing solar power-related manufacturing units it has at their Chhattisgarh SEZ. The company has so far invested Rs.1,200 crore and plans to put in an additional Rs.800 crore by the end of next year.
The investments made so far have gone into establishing manufacturing units for poly-silicon refining and wafer plant along with a 150 MW module plant. “Setting up a solar cell plant will complete the value chain such that all the materials related to setting up a solar power plant can be accessed in India. Most of the companies rely on imports from China, Taiwan and Korea,” said Raj Kumar Roy, president, Lanco Solar Pvt. Ltd, a subsidiary of Lanco Infra.
Work in this plant had halted for two years, before resuming this July, as the technology to be used for the plant had to be changed along with partner GT Solar. “With the changes in the technology configurations we were able to enhance the capacity without any additional investment,” Roy said.
The project, situated at Rajnandangaon in Chhattisgarh, aims to tap photovoltaic cell production of 2,200 MW per year and is expected to be operational around September next year. The company claims this will be the first such poly-silicon and wafer manufacturing facility coming up in India.
“The unit will produce poly silicon, the starting material for PV value chain, till PV Modules and act as an anchor unit facilitating development of more Solar PV and ancillary units within this SEZ,” the company said in a statement.
At the 250-acre solar SEZ, Lanco would utilize around 100 acres and the rest will be made available to foreign and Indian companies in a plug and play model. The company on Monday said it has also joined hands with the Chhattisgarh government to enable establishing solar-related manufacturing units.
“This tie-up would accelerate the development and green energy mission by inviting participation from foreign players who will bring in technological know-how but will also create employment opportunities,” L. Madhusudhan Rao, executive chairman, Lanco Infratech.
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