US-based 1366 Technologies to invest $300 mn for solar module in India
POWER & RENEWABLE ENERGY

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

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

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?