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Solarworld Energy Solutions and Rays Power Infra have joined hands to set up a 2.4 GW solar cell manufacturing facility in Madhya Pradesh, with commercial production targeted for June 2027.
The companies have formed an equal JV, Rays Green Energy Manufacturing, to develop the plant on around 41.30 acres allocated by the Madhya Pradesh Industrial Development Corporation in Narmadapuram district. Construction is already underway.
The facility will manufacture n-type TOPCon G12R solar cells and is estimated to cost around Rs 1,000 crore, translating to a capital cost of about Rs 417 crore per GW. Solarworld Energy Solutions will also provide a loan to the JV.
The project has secured consent to establish from the Madhya Pradesh Pollution Control Board.
News by Rahul Yelligetti.
