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US-based thin film solar module maker may invest Rs. 22.55 billion in Tamil Nadu

According to reports, A US-based thin film solar module manufacturer is exploring the possibility of setting up a facility in Tamil Nadu with an investment of $500 million (approximately R2,255 crore) in the coming months. The multi national company is looking at housing the state-of-the-art facility in about 250 acres of land.

According to government officials, a top level team from the company is expected to visit sometime early next week to initiate discussions with the state government officials including the industries secretary. The MNC would look at putting up the facility closer to Chennai because of its proximity to ports and the international airport. It is also learnt that the US company would be roping in consultants to hand hold them in the exercise.

Officials pointed out that the company is a leader in making thin film solar modules and the fastest growing manufacturer in the world.

Unofficial and unconfirmed sources that Panchabuta spoke to have indicated that the company being mentioned here is First Solar. In the past First Solar has looked at India on and off and had not made a firm commitment to manufacturing here. It is probably the pressure from the most recent results this past quarter and their commitment to reach out to newer markets that has made them revisit their India plans and expedite the same, in time for the second phase of the National Solar Mission.

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