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Adani gets Gujarat govt nod to build solar power equipment unit

Adani Enterprises Ltd has secured approval from the Gujarat government to begin work on building a solar power equipment plant on its own after earlier unsuccessful attempts to build the plant in partnership with technology providers such as clean-power developer SunEdison.

Work on the first phase of the project has started and is expected to be commissioned this year, said two government officials familiar with the plan.

The Adani Group plans to invest $2 billion in the project to make solar panels and solar photo-voltaic cells.

“Earlier this month, the company got an in-principle approval from the Gujarat government’s department of electronics for assistance in setting up core infrastructure as per a state scheme to promote industries,” said a senior government official close to the development, requesting anonymity.

For the project, Adani Enterprises has set up special purpose vehicle Mundra Solar PV Ltd. The plant will produce polysilicon, wafers, cells and modules.

According to the project details submitted to the state government, Mundra Solar PV aims to complete phase 1 of the project by the end of this year. The initial phase will include setting up a solar cell and module plant with a capacity of 1,200 megawatts (MW).

The plant will be developed over a three-year period. “This facility will vertically integrate all aspects of solar panel production on site, including polysilicon re