Lanco’s solar cell making plant to start by next year
Lanco Solar Private Ltd, a unit of the Hyderabad-based Lanco Group, would kick-start the 300-MW photovoltaic (PV) solar manufacturing plant in special economic zone (SEZ) in Rajnandgaon of Chhattisgarh next year.
“By (mid) next year we will be able to produce solar cells and the facility would be able to produce 300 MW cells when completely done,” Satyendra Kumar, Chief Technology Officer, told mediapersons.
At present, the plant is manufacturing only solar modules. The Group is investing Rs 3,000 crore for the unit.
The manufacturing project is expected to generate $300 million revenue for the cash-starved Lanco Group.
According to the initial plan, the plant would export nearly 15 per cent of its manufactured solar cells.
The raw material, metallurgical silicon, will be imported. Lanco has tied up with US-based GT Solar to provide key technology to be used in the plant. The solar manufacturers in India, under the banner of SEMI India, want the Government to incentivise local manufacturing in the latest phase of National Solar Mission by reserving some of the capacities to be added through use of local equipments.
The players sought a free and fair competition.
According to reports, out of 1,48,551 MW of grid-connected solar power plants in the last three years, 391 MW have used foreign solar cells or modules.