Renewable energy producer Azure Power Global Ltd announced it has entered into an agreement for sourcing 600 megawatt (MW) solar modules from First Solar. The agreement is the first for production from First Solar's new manufacturing facility in Tamil Nadu, India, which is expected to be commissioned in the second half of 2023. Under the agreement, Azure is expected to take
delivery of photovoltaic (PV) solar modules from the fourth quarter of 2023 to 2025. "We are pleased to partner with First Solar with their latest Series 7. Having a long-term agreement with global solar modules technology leaders like First Solar is key to de-risking our supply side with the latest technology available in the market," said Rupesh Agarwal, acting chief executive officer, Azure Power.
First Solar's manufacturing facility, located near Chennai, is projected to have an annual capacity of 3.3 GW. The company claims the modules have a carbon footprint 2.5 times lower than the average crystalline silicon solar panel made with cells produced in China.
In addition to the new manufacturing facility in India and a third factory in the US, both of which are expected to come online in 2023, First Solar plans to invest $1.2 billion in building a fourth factory in the US Southeast and expanding the capacity of its existing manufacturing footprint in Ohio.
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