US-based 1366 Technologies to invest $300 mn for solar module in India
POWER & RENEWABLE ENERGY

US-based 1366 Technologies to invest $300 mn for solar module in India

US-based 1366 Technologies plans to invest $300 million to set up a 2 GW solar wafer and cell manufacturing facility in India under the production-linked incentive (PLI) scheme by the government.

India has a domestic manufacturing capacity of 3 GW for solar cells and 15 GW for solar modules. The PLI scheme of Rs 4,500 crore is a part of the domestic content requirement strategy. It is expected to add 10 GW of integrated solar PV capacity by bringing a direct investment of about Rs 17,200 crore.

The investors associated with 1366 Technologies are North Bridge Venture Partners and Polaris Partners. They have received funds of $200 million from both equity and non-dilutive resources.

1366 Technologies Chief Executive and Founder Frank van Mierlo, told the media that the capital markets are very friendly towards technologies, and in two years, the solar modules sold in India should be manufactured domestically. The production of modules will be the most profitable part of the supply chain, and many people are interested due to its underlying market dynamics.

Image Source


Also read: Asia Pacific to double to $1.3 trillion RE investments by 2030: Woodmac

Also read: Government extends waiver of ISTS charges for solar, wind developers

US-based 1366 Technologies plans to invest $300 million to set up a 2 GW solar wafer and cell manufacturing facility in India under the production-linked incentive (PLI) scheme by the government. India has a domestic manufacturing capacity of 3 GW for solar cells and 15 GW for solar modules. The PLI scheme of Rs 4,500 crore is a part of the domestic content requirement strategy. It is expected to add 10 GW of integrated solar PV capacity by bringing a direct investment of about Rs 17,200 crore. The investors associated with 1366 Technologies are North Bridge Venture Partners and Polaris Partners. They have received funds of $200 million from both equity and non-dilutive resources. 1366 Technologies Chief Executive and Founder Frank van Mierlo, told the media that the capital markets are very friendly towards technologies, and in two years, the solar modules sold in India should be manufactured domestically. The production of modules will be the most profitable part of the supply chain, and many people are interested due to its underlying market dynamics. Image Source Also read: Asia Pacific to double to $1.3 trillion RE investments by 2030: Woodmac Also read: Government extends waiver of ISTS charges for solar, wind developers

Next Story
Infrastructure Urban

Honeywell Unveils AI Tools to Enhance Green Hydrogen Efficiency

"Honeywell has introduced Honeywell Protonium, a comprehensive suite of advanced technologies driven by artificial intelligence (AI) and machine learning (ML), aimed at improving the efficiency, scalability, and cost-effectiveness of green hydrogen production. The technology is designed to address key industry challenges such as power intermittency, high production costs, and carbon intensity, thereby facilitating the wider adoption of clean hydrogen as a sustainable energy source.The first deployment of Honeywell Protonium will take place at Aternium, a US-based large-scale clean hydrogen pro..

Next Story
Infrastructure Transport

NHAI Plans Link Road for Expressway Access

The National Highways Authority of India (NHAI) is evaluating the construction of an 18 km road to connect the Bengaluru-Chennai Expressway, within Karnataka, to the Bengaluru-Kolar Highway (NH 75). This strategic link is aimed at improving connectivity for motorists travelling towards the Andhra Pradesh border, including destinations like Chittoor and Tirupati. Currently, a 68 km section of the expressway — from Hoskote to Bethamangala near Kolar Gold Fields (KGF) — is operational. However, due to the absence of seamless end-to-end connectivity, users are forced to navigate through narr..

Next Story
Infrastructure Transport

Bengaluru to Get 40-Km Signal-Free Transit Corridor

In a major push to modernize Bengaluru’s transport infrastructure, the Karnataka Government has approved the construction of a 32.15 km double-decker flyover with a metro line along the city’s Outer Ring Road. This transformative initiative aims to ease the daily commute for thousands and provide lasting relief from the city's chronic traffic congestion. In tandem, an additional 8 km elevated stretch will be constructed on Magadi Road as part of Namma Metro’s Phase III expansion. Together, these projects will add over 40 km of new, signal-free metro routes—making daily travel faster, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?