AmpIn Energy Transition, previously known as Amp Energy India and a significant player in India's Independent Power Producer (IPP) sector, has unveiled a strategic alliance with Jupiter International Limited to create a joint venture exclusively dedicated to solar panel manufacturing. This partnership marks a crucial move to enhance India's solar cell and module production capacity, ultimately fostering self-sufficiency in the renewable energy industry.
Within this joint venture (JV), the two partners will establish an advanced manufacturing facility with a focus on producing up to 1.3 gigawatts (GW) of high-quality solar cells and modules. This initiative is in line with the Indian government's Production-Linked Incentive (PLI) Tranche-II program, which is designed to boost domestic manufacturing, reduce global supply chain vulnerabilities, and decrease India's dependence on solar imports. AmpIn's venture into manufacturing is geared towards gaining control over the supply chain for critical components. This strategic move resonates with the growing demand for solar cells made in India.
Jupiter International Limited, which already operates an 800 MW solar cell manufacturing facility in Himachal Pradesh, brings more than 15 years of experience producing efficient solar cells. This partnership harnesses Jupiter's expertise and combines it with AmpIn's dedication to delivering cost-effective renewable energy. According to the JV's terms, the solar modules will be used both domestically by AmpIn and provided to third-party developers, facilitating growth in both the domestic and export segments of India's renewable energy industry.
Mr. Pinaki Bhattacharyya, the Managing Director and CEO of AmpIn Energy Transition emphasized that this collaboration is in line with the Indian government's vision of self-sufficiency and a more environmentally friendly future. He stated that it will improve their control over the supply chain for vital components. Mr. Alok Garodia, the Chairman of Jupiter International, expressed optimism about the partnership's potential to transform India's solar manufacturing landscape, stabilize the supply chain, and reduce the country's reliance on imports. He emphasized the combined strengths of both companies. This partnership signifies a significant step towards nurturing a robust solar manufacturing sector in India, in accordance with national self-sufficiency and renewable energy objectives.