AmpIn Energy Transition, formerly Amp Energy India and a leading private-sector power producer in India, has partnered with Jupiter International Ltd to form a joint venture for solar cell and module manufacturing in India.
Under the JV, the two partners will set up a state-of-the-art solar cell and module manufacturing facility with a capacity of up to 1.3 GW per annum. The capacity will be built under the second round of the government’s production-linked incentives (PLI) scheme to boost domestic solar PV manufacturing to reduce India’s dependence on solar imports.
The modules produced through the alliance will be consumed locally by AmpIn and supplied to third-party developers.
“As AmpIn delves into manufacturing, it aims to enhance its grip on the supply chain for essential components. The appetite for India-produced solar cells is robust, and as favorable policies take root, production costs are anticipated to drop, giving the industry a competitive edge,” stated AmpIn.
Jupiter International already has an 800 MW solar cell manufacturing facility in Himachal Pradesh. AmpIn Energy Transition has a total RE project portfolio of 3 GWp spread across 17 states in the country.
The alliance with Jupiter will leverage Jupiter’s vast expertise and help AmpIn in its objective to provide the lowest-cost renewable power to its customers.
Pinaki Bhattacharyya, managing director and chief executive officer of AmpIn Energy Transition, said, “[The alliance with Jupiter] will help us achieve backward integration and enhance our control over the supply chain for crucial components, which would help us optimize our operations for quality, efficiency, and cost-effectiveness. There is a strong demand for Indian solar modules, and with the right support and policies, they will become cost-effective and competitive globally.”
Alok Garodia, chairman of Jupiter International, added, “Combining our solar cell manufacturing prowess with AmpIn’s commitment to renewables will play a major role in stabilizing the supply chain and reducing India’s reliance on imports. We bring competencies in designated parts of the value chain, and together, we will be a formidable force.”
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