Essel Infraprojects has entered into a joint venture agreement with J A Solar, China’s leading solar energy firm, to set up a solar cell and module manufacturing company in India. The company has signed an MoU for a 50:50 joint venture. The JV company will set up a manufacturing facility in India with an estimated capital expenditure of US 150 million (Rs 950 crore) out of which USD 30-45 million (Rs 190 to Rs 285 crore) will be by means of equity funding. It will focus on using the latest cutting edge Photo Voltaic (PV) technology to manufacture solar cells, panels and modules in India. The facility is expected to turn out 500 MW of power per annum.
As of August 2015, the company is still awaiting land allotment for setting up of 10 MW solar power project in Shajapur, Madhya Pradesh.
Company Profile : Essel Infraprojects Ltd
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