Indian module manufacturer Navitas Solar has announced a plan to set up a 1.2GW solar module assembly plant in the US.
Navitas Solar will collaborate with US investment company Sustainable Equity and US solar company Colby Solar to build the facility in an undisclosed location in the midwestern US. Moreover, Navitas Solar also set up a new entity Geosol Global Distribution to distribute Navitas Solar modules in North America.
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Moreover, Navitas Solar is also planning to expand its manufacturing capabilities to 10GW “within a few years”.
“Each milestone underscores our drive for success while making positive social and environmental impacts. Our manufacturing has expanded to 1.7GW module production capacity per year and will reach 5GW annually within the next five years,” said Vineet Mittal, co-founder and director of Navitas Solar.
The company also produces ethylene-vinyl acetate (EVA) sheets, a key component needed for solar module manufacturing.
Navitas Solar added that the US solar market “is better than ever”, with one of the examples being Illinois’ pioneering Clean Energy Jobs Act legislation.
“These favourable conditions create the perfect breeding ground for new business alliances, such as our new strategic partnership with Navitas Solar,” said Byron DeLear, chief executive officer and head of impact and sustainability for Sustainable Equity.
Earlier this year, Navitas Solar raised US$5 million aimed to expand its current solar manufacturing capacity.
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