The Chennai based Voltech Group and the US based NanoPV have joined hands to set up a solar module manufacturing plant near Chennai.
The two companies will set up a 100 MW solar module manufacturing plant near Chennai. The project cost is estimated at Rs 100 crore.
Also, the company will be setting up a solar farm near
Tuticorin in phases at an investment of Rs 100 crore. The initial capacity of solar plant will be 10 MW and will gradually be ramped up. Work has commenced on the first 2 MW, which will be completed by March 2013. The other 8 MW will be ready to produce power by December 2013.The UAE based Arab Gulf Pearl Trading is also participating in the solar farm project. It has taken 50 per cent of the equity. NanoPV intends to bring in plant and machinery from the US and set up a production line in the country.
Voltech is into the manufacture of transformers while NanoPV has unique technology based on amorphous and nano-crystalline silicon and proprietary light-trapping and 'transparent conductive light-trapping oxide' technologies.