Planning stages are underway for the construction of a proposed INR10,000 crore (US$1.9 billion) PV components and polysilicon factory in the Andhra Pradesh region of India, according to The Economic Times. Indian conglomerate Yash Birla Group has reportedly submitted a proposal to the region’s government for approval to commence construction of a polysilicon plant by Power Solutions.
The plant, if approved for construction, would see the production of solar-grade polysilicon, silicon wafers and PV cells and modules. Andhra Pradesh is said to rich in silicon assets for mining purposes.
This is one of a trio of projects under consideration by the Yash Birla Group, the others being a sports university and related infrastructure (Rs 2,000 crore investment) and an ayurvedic village with manufacturing, R&D and therapeutic facilities (Rs 1,200 crore investment).
The group’s chairman, Yash Birla, is said to have exchanged MoUs with Andhra Pradesh’s Chief Minister N. Kiran Kumar Reddy with a proposed investment plan of Rs 13,000 crore for the three projects. The funding for the proposal will be generated through private equity dilution, internal accruals and proposed IPO.