Jakson Engineers to Develop 2.5 GW Solar Cell Manufacturing Plant
The company plans to expand its 1.2 GW module facility to 2 GW
Delhi-based Jakson Engineers is investing $240 million to develop a 2.5 GW solar cell manufacturing plant. The company also plans to expand its 1.2 GW module manufacturing facility in Greater Noida to 2 GW.
The solar cells will be of TopCon technology. The company plans to keep the facility technology agnostic to ensure easy transitioning into emerging technologies. The location of the new unit will be finalized in a few months as the company is in talks with the state governments.
The company plans to set up the 2.5 GW cell facility in two phases.
The first phase of the solar cell plant will be commissioned within the next 15 months, while the module plant expansion is expected to be completed within six months.
The company aims to become a 5 GW integrated cell, wafer, and module manufacturer in four to five years.
India added 20.8 GW of solar modules and 3.2 GW of solar cell capacity in the calendar year 2023, according to the State of Solar PV Manufacturing in India 2024 Report by Mercom India Research. The country’s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023.
In July, Jakson Green, the renewable energy arm of the Jakson Group, secured a ₹2.96 billion (~$35.36 million) credit facility from First Abu Dhabi Bank to support its international expansion, starting with a solar photovoltaic and battery storage project in Uzbekistan.
Earlier, Jakson Green was awarded a flue gas CO2 to 4G ethanol project for a power project in Lara, Chhattisgarh, by NTPC.
In January, Rail Vikas Nigam and Jackson Green formed a joint venture to explore solar power project opportunities in India and abroad. The JV will cater to giga-scale EPC clean energy energy projects in the Middle East and North Africa, the Commonwealth of Independent States, and Asia Pacific countries.
