AmpIn Energy Transition, an Independent Power Producer (IPP) in India, has announced a joint venture with Jupiter International to set up a facility to manufacture up to 1.3 GW of solar cells and modules.
The facility, which is being established with funds under the government’s Production Linked Incentive program program, is expected to be commissioned in the financial year 2024-25.
Under the joint venture’s terms, the modules will be used locally by AmpIn and supplied to third-party developers.
Under the PLI, AmpIn is eligible to receive a maximum incentive of ₹1.4 billion (~$17 million) for manufacturing 1 GW of cells and modules.
The company said the PLI initiative aligns with the government’s vision of boosting local manufacturing, reducing global supply chain vulnerabilities, and decreasing India’s reliance on solar imports.
AmpIn offers a balanced portfolio of renewable energy projects, providing C&I and utility customers with cost-effective renewable energy solutions.
Jupiter International currently possesses an 800 MW solar cell manufacturing stronghold in Himachal Pradesh, with 15 years of experience in manufacturing high-efficiency solar cells with a strong track record of excellence and continuous technological advancement.
Pinaki Bhattacharyya, MD and CEO of AmpIn Energy Transition, said, “Partnering with Jupiter International will help us achieve backward integration and enhance our control over the supply chain for crucial components, which would help us optimize our operations for quality, efficiency, and cost-effectiveness. There is a strong demand for Indian solar modules, and with the right support and policies, they will become cost-effective and competitive globally.”
Alok Garodia, Chairman of Jupiter International, said, “We are happy to collaborate with AmpIn as this partnership will redefine the solar manufacturing landscape in India. Combining our solar cell manufacturing prowess with AmpIn’s commitment to renewables will play a major role in stabilizing the supply chain and reducing India’s reliance on imports. We bring in competencies in designated parts of the value chain, and together, we will be a formidable force.”
The Ministry of New & Renewable Energy approved incentives amounting to ₹195 billion (~$2.36 billion) for PLI Tranche II. Out of this, ₹120 billion (~$1.45 billion) has been earmarked for vertical integration of manufacturing polysilicon, ingots, wafers, solar cells, and solar modules.
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