Adani Enterprises and Sun Edison Inc signed an MoU to establish a Joint Venture to build the largest, vertically integrated solar photovoltaic (PV) manufacturing facility in Mundra, Gujarat with an investment of around $4 billion. This joint venture will create 4500 direct jobs and more than 15,000 in-direct jobs. The facility will create enough solar panels to fuel substantial solar growth in India.
India gets more sunshine than most of the European countries that use solar power. But the clean energy source contributes less than 1 percent to India’s energy mix. India’s dependence on erratic coal supplies results in frequent power cuts in all parts of the country.
The construction time of this facility will be three to four years and once completed, it will be one of the World’s Largest PV manufacturing facility.