- Topaz Solar has announced its plan to set up a 1.2 GW solar module manufacturing plant in Bhubaneswar
- 500 MW will be set up in the first phase and 700 MW in the second phase
- German and Chinese technology will be used in the manufacturing facility
- A R&D center will also be set up for technological upgrades with regard to bifacial cells and modules
- Future plans include setting up a solar cell factory and bifacial glass-glass solar modules in partnership with a European company
India’s Topaz Solar Signs Agreement With France’s Apollon Solar To Set Up 500 MW Of Bifacial And Monofacial Module Production For First Phase Of 1.2 GW Factory
(17. March 2018)
Indian energy and mining company Topaz Solar Private Limited plans to set up a solar module manufacturing plant of 1.2 MW annual capacity in the state of Odisha. The factory will be built near the state’s capital city of Bhubaneswar on a 40-acre plot.
On its website, the company has stated that it also plans to set up a module manufacturing plant of 500 MW capacity in Malaysia. It is currently securing approvals for the project.
The Odisha module factory is planned to be established in two phases. The first phase will have 500 MW to be set up for an investment of 2.4 billion INR ($37 million) with 800 million INR ($12.5 million) in equity and 1.6 billion INR ($25 million) debt financing. Topaz Solar plans to spend 1.8 billion ($28 million) on imported equipment. German and Chinese technology will be used for this facility, but the company did not share any further details in an official statement.
The second phase of 700 MW is scheduled to commence two years after the commercial production start of the first phase facility. In total, the payback period is anticipated to be six years.
In addition, Topaz Solar will be building an R&D center to ensure technological upgrades to stay competitive. Its focus area will be bifacial cells and modules.
Topaz Solar also wants to move upstream. It plans to acquire more land for a solar cell manufacturing plant as well as bifacial glass-glass modules in partnership with a European company. TaiyangNews recently published a report on bifacial solar module technology (which can be downloaded free of charge here).
Topaz Solar plans to export its modules to both Europe and the US.
A skill development center is planned to be set up next to the plant in association with a European firm to train unskilled local labor in the plant processes.
To be self-sufficient in terms of power supply, the plant will set up a rooftop solar power plant along with ground mounted structure in the additional land.
The Chairman of Topaz Solar, Ganesan Natarajan, told Mercom Capital Group, that he was hopeful that anti-dumping duties will be imposed on Chinese solar imports owing to political and trade equations in play between the two countries. Hence, it was the right time to foray into module manufacturing.