Signet Solar eyes India for new solar plant

Mar. 18, 2008 – Signet Solar, a maker of silicon thin-film photovoltaic (PV) modules, says it will build its second manufacturing site in India, an expansion following >$400M in advance orders for the company’s first three years of production. The site will be located in the Sriperembudur Special Economic Zone near Chennai in southern India; shipments are planned by 2010.

Signet Solar’s German facility is scheduled to start production by 3Q08 with 60MW annual capacity, eventually adding more lines to ramp to >100MW by 2010, toward a goal of grid-parity pricing within five years. CEO Rajeeva Lahri noted “strong demand in Europe and the US” driving the investments.

The company cited local government incentives for choosing India for its next site, including new semiconductor policy initiatives and growing regional demand for renewable energy. The port city of Chennai also offers a growing manufacturing center, educational institutions, and large pool of engineering talent, the company noted in a statement.


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