"We are happy to partner with SunEdison, a leading solar technology manufacturer, to build this facility which further integrates our power — renewable business value chain and has significant socio-economic benefits," Adani Power CEO Vneet Jaain said in a statement posted on its website Sunday.
SunEdison CEO Ahmad Chatila said the "ultra-low cost" solar-panels will generate cost-effective electricity, giving India the chance to become a "solar production powerhouse."
The deal comes amid Indian Prime Minister Narendra Modi’s plans to provide competitively priced and round-the-clock electricity across the country. The Modi administration aims for the country to be able to produce 100 gigawatts of solar power by 2022, compared to India's current solar power capacity of about 3 gigawatts.
