Renewable energy independent power producer (IPP) Amp Energy India Private Limited (AEI) is foraying into solar PV manufacturing under a partnership with solar and module producer Websol Energy Systems Limited to jointly produce up to 2.4 GW monocrystalline PERC solar cells and modules.
The duo have entered into a term sheet to establish a joint venture (JV) which will be tasked to bring online up to 1.2 GW monocrystalline PERC solar cells and up to 1.2 GW mono PERC modules, according to a September 7, 2022 stock exchange filing of Websol.
Amp says the 1.2 GW capacity will be realized in 2 phases of 600 MW each at Websol's existing unit at Falta in West Bengal. The JV will have Websol owing 51% and Amp 49% stake.
Associated with Canada's Amp Energy Group, Amp Energy India said the deal will bring it 'better control over the supply chain for critical components'. Websol will provide Amp up to 50% of the production under an offtake agreement and sell remaining cells and modules in the market helping 'fill demand-supply gap' in the Indian market.
Terming the move a 'natural progression' into manufacturing, Amp Energy India's MD and CEO Pinaki Bhattacharyya said, "There is an extremely strong demand for India manufactured solar cells and with favorable policies in place, the costs of manufacturing will also go down as industry scales and become more competitive. We believe that our entry into manufacturing would not help in backward integration but also help us have better control over supply chain of critical components."
One of the India solar manufacturing pioneers, Websol operates 280 MW cell and 250 MW module manufacturing capacity in Falta Special Economic Zone (SEZ) and recently secured board approval to add up to 1.8 GW new capacity of mono PERC and high efficiency TOPCon technology (see Indian Manufacturer To Expand Into TOPCon Tech).
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