Insolation Energy breaks ground on 3-GW Indian PV factory

India-based Insolation Energy (BOM: 543620), also known as INA Solar, has officially launched the construction of a new photovoltaic (PV) modules factory with an annual production capacity of 3 GW.

The company’s subsidiary Insolation Green Energy Pvt Ltd will build what will be the group’s third solar manufacturing site, according to a bourse filing on Monday.

The new factory will be located in the village of Sawarda, near the Jaipur city of the northwestern Indian state of Rajasthan, and will make N-type and TopCon solar modules. The site will also accommodate an aluminum frame plant with a production capacity of 12,000 tonnes per year.

The project is expected to create more than 1,000 jobs and contribute significantly to supporting the domestic solar manufacturing industry. Local media report that the proposed investment in the initiative stands at INR 4 billion (USD 47.8m/EUR 42.9m).

(INR 10 = USD 0.119/EUR 0.107)

Choose your newsletter by Renewables Now. Join for free!