India's NHPC, Bharat Electronics plan gigawatt-scale solar factory
Rooftop solar system in India. Author: Coshipi (clive.semmens.org.uk). Licensed under CC BY-SA via Flickr.
August 23 (Renewables Now) - Indian hydropower producer NHPC Ltd (BOM:533098) and aerospace and defence electronics company Bharat Electronics Ltd (BOM:500049) will work together to build a gigawatt-scale solar factory.
The two state-owned companies have entered into a memorandum of understanding (MOU) in relation to this partnership, according to a bourse filing on Tuesday.
The announcement did not give any further information about the project apart from mentioning it involves the construction of a vertically-integrated solar manufacturing unit.
According to a presentation from earlier this month, NHPC is currently building four solar power plants with a combined capacity of 1,040 MW, to be completed in the period 2022-2024. In addition, it has a 600-MW project in the tender stage and a few joint venture developments. The company also lists 2,000 MW of solar capacity as an intermediary procurer.