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03/18/2008 06:47 AM
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Signet Solar To Build Thin-Film Plant in India
SustainableBusiness.com News
Signet Solar, a manufacturer of silicon thin film photovoltaic (PV) modules, today announced plans to locate its second manufacturing site in the Sriperembudur Special Economic Zone near Chennai, India.
Signet Solar's decision to expand manufacturing in India follows more than $400 million in advance orders for the first three years of production, the company said.
Signet Solar said it chose to locate its next manufacturing site in India because of the attractive incentives offered by the Government, including the recently announced semiconductor policy initiative and because of the strong emerging demand for renewable energy in India. Chennai, a port city in southern India, is a growing manufacturing center with well-developed infrastructure.
The company's first manufacturing plant, in Germany, is scheduled to start production by Q308 and will have a total annual production capacity of 60 megawatts (MW), the company said. Additional production lines will be added to increase manufacturing capacity to over 100 MW in Germany by 2010.
"We are on schedule to start shipping products from our Dresden, Germany manufacturing plant by Q3 2008 and plan to begin shipments from India by 2010, with a goal of achieving grid parity pricing within the next five years," said Rajeeva Lahri, CEO and Founder of Signet Solar.
About Signet Solar
Headquartered in Menlo Park, California, Signet Solar, Inc. was founded to design, develop, manufacture and market thin film silicon photovoltaic modules.
Website: http://www.signetsolar.com
