Asahi India Glass Limited (AIS) is to help set up a solar glass manufacturing plant in Mundra, India.
It has partnered with Ahmedabad-based Vishakha Group to form what is says is India’s largest solar glass manufacturing plant.
The greenfield site at Mundra, Gujarat will have a phase-1 capacity of up to 3GW.
The plant is expected to be commissioned within 18-24 months and AIS will take a minority stake in the business.
Vishakha Group is a manufacturer of flexible polymer packaging. It also has manufacturing facilities for other key components in the entire solar panel value chain such as solar backsheets, EVA encapsulant sheets and solar module aluminium frames.
As part of its commitment to the Paris Climate Agreement, India has now embarked on a target of generating 450 GW of renewable energy by year 2030.
This has led to a surge in demand for solar power in India, resulting in a demand for solar power equipment and solar glass.
Mr. Sanjay Labroo, Managing Director & C.E.O. of Asahi India Glass Ltd (AIS), said: “Although a different market segment, solar glass is still an adjacent business to the existing businesses of AIS.
"We are delighted to partner with Vishakha group in their vision of creating the entire ecosystem and value chain for indigenizing solar energy generation in India.”