(MENAFN) Solar power firm SunEdison and Indian conglomerate Adani Enterprises plan to invest up to USD4 billion in what would be one of India's largest solar panel makers, The Peninsula Qatar reported.
On the sidelines of Vibrant Gujarat gathering of statesmen and business leaders, the two firms said that the new joint venture project would manufacture low-cost photovoltaic solar panels.
"This facility will create ultra-low cost solar panels that will enable us to produce electricity so cost effectively it can compete head to head," President and Chief Executive Officer of US-based SunEdison said.
Indian President wants companies from China, Japan, Germany and the US to lead investments of USD100 billion over seven years to boost India's solar energy capacity by 33 times to 100,000 megawatts.
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