PVV Infra has outlined plans to build a 1GW tunnel oxide passivated contact (TOPCon) solar cell production line in the Indian state of Andhra Pradesh.
The company has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board for the facility, in which it plans to invest INR650 crores (US$73.4 million).
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In a statement to the Bombay Stock Exchange, on which PVV Infra is listed, the company said the factory would be built on 30 acres of land in Visakhapatnam, a port city and industrial centre on the Bay of Bengal.
It stated that the factory would provide 350 direct jobs by 2026 and a further 450 indirect jobs in associated supply chain and logistics activities.
No further details were provided on the next steps or timeline for the proposed venture. PV Tech has contacted PVV Infra for further information.
PVV Infra’s background is in construction and civil engineering, but the company has said it is diversifying into renewable energy via subsidiaries.
Last month one of these, PVV EVTech Private, signed a 25-year power purchase agreement (PPA) for a 100MW PV project with the state-owned Uttar Pradesh New and Renewable Energy Development Agency. Another of its subsidiaries, PVV Housing Private, secured an engineering, procurement and construction (EPC) contract for a 109MW solar project in the same area of Uttar Pradesh.
