The clean energy investment firm Amp Energy recently announced its joint venture with Websol Energy System, aiming to manufacture solar cells and modules in India. Websol is a PV solar cell and module manufacturer based in India. The plan is to produce around 1.2 GW of monocrystalline PERC solar cells and modules.
Websol will hold a majority stake in the venture, with Amp Energy owing the remaining 49%. Both debt and equity funds will finance the venture combinedly. While half of the production will go to Amp Energy India under an off-take agreement, the remaining will go to the supply-deprived cells and modules market in India.
As per the statement released by Amp Energy India, the production of Cells and modules will happen in two phases of 600 MW each at Websol’s existing unit at Falta in West Bengal.
In the past, Amp Energy has developed a planned 1.3 GW renewable energy hub in South Australia. It has projects spanning continents, and in India, it handles renewables projects worth 2 GW across 15 states. Amp Energy India CEO Pinaki Bhattacharyya stated: “We believe that our entry into manufacturing would not only help in backward integration but also help us have better control over the supply chain of critical components.”
