U.S.-based Triton Solar, LLC has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to set up a solar battery manufacturing unit in the Indian state under a public-private-partnership (PPP) model.
With an investment of Rs 727 crore (US$103 million), the plant, which will produce batteries based on nano and lithium polymer technology, will be developed across a series of phases. It aims to reach an annual capacity of 200 MW.
The India Energy storage Alliance (IESA) has estimated that over 70 GW/200 GWh of energy storage opportunities in India by 2022. According Motilal Oswal, a brokerage house, in the next five years, India’s lithium-ion battery industry will be worth $42 billion. The opportunity for manufacturing battery cells, the most critical part of a lithium-ion battery pack itself would be worth $15 billion.
Headquartered in New Jersey, Triton Solar produces high efficient solar cells, flexible lighting and batteries. It has manufacturing facilities in New Jersey and California, and markets its products globally.
The plant will help for conversion of electrical vehicles and secure 200 Megawatt of solar power storage supply to meet the state solar energy needs.
In 2015, the manufacturer signed a Letter of Intent (LoI) with government officials of Indian state Karnataka to build a $100 million printed solar cell factory. Production was set to begin the following August, alongside another fab, which was being constructed in the state of Madhya Pradesh.
Source: Economic Times
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