14 DAY TRIAL // This past weekend, US renewables giant SunEdison and Indian multinational conglomerate company Adani Enterprises announced that, together, they would build a mammoth solar factory in India.
Details concerning this ambitious project are still scarce, but word has it that, should things to as planned, the factory, set to be built in the Indian state of Gurajat, will become operational before the end of the decade.
The project is the largest of its kind for India
Information shared with the public by SunEdison and Adani Enterprises says that, all in all, the costs associated with erecting this giant photovoltaic manufacturing facility in the state of Gurajat in India will amount to $4 billion ((€3.4 billion).
The US-based global solar energy company and the Indian multinational conglomerate will both chip in, but it is unclear just how much money each of them is ready and willing to cough out, Business Green informs.
It is understood that work on the solar factory should be completed in about three years from now. When up and running, the facility will employ about 20,000 people and thus prove a worthy contributor to India's economy.
The factory should help India green up its ways
Prime Minister Narendra Modi hopes that, by 2022, India will have successfully installed an additional 100GW of solar capacity. The thing is that, in order for this to happen, technologies that harvest sun power must be readily available.
Thus, the photovoltaic manufacturing facility that will soon open in Gurajat should make it easier for India to ditch fossil fuels in favor of renewables by presenting it with solar panels that are not only efficient but also close at hand and fairly cheap.
“The facility will manufacture solar panels to fuel solar power growth in India, furthering India's goals for clean, renewable energy independence, and will add up to 20,000 jobs to the local economy,” Adani Enterprises said in a statement this past Sunday.
“This facility will create ultra-low cost solar panels that will enable us to produce electricity so cost effectively it can compete head to head, unsubsidized and without incentives, with fossil fuels,” added Ahmad Chatila, the current president and chief executive of SunEdison.