US-based 1366 Technologies to invest $300 mn for solar module in India

25 Jun 2021 CW Team

US-based 1366 Technologies plans to invest $300 million to set up a 2 GW solar wafer and cell manufacturing facility in India under the production-linked incentive (PLI) scheme by the government.

India has a domestic manufacturing capacity of 3 GW for solar cells and 15 GW for solar modules. The PLI scheme of Rs 4,500 crore is a part of the domestic content requirement strategy. It is expected to add 10 GW of integrated solar PV capacity by bringing a direct investment of about Rs 17,200 crore.

The investors associated with 1366 Technologies are North Bridge Venture Partners and Polaris Partners. They have received funds of $200 million from both equity and non-dilutive resources.

1366 Technologies Chief Executive and Founder Frank van Mierlo, told the media that the capital markets are very friendly towards technologies, and in two years, the solar modules sold in India should be manufactured domestically. The production of modules will be the most profitable part of the supply chain, and many people are interested due to its underlying market dynamics.

Image Source

Also read: Asia Pacific to double to $1.3 trillion RE investments by 2030: Woodmac

Also read: Government extends waiver of ISTS charges for solar, wind developers

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..