Chinese solar company to invest Rs 1,670 cr in AP

The MoU was signed in Delhi in the presence of CM N Chandrababu Naidu

Xi'an LONGi Silicon Materials Corp., a Chinese manufacturer of solar energy equipment, today signed a memorandum of understanding(MoU) with Andhra Pradesh government for setting up a production unit and a solar power park in the state at an investment of Rs 1,670 crore.

The company proposes to establish solar cell and solar module manufacturing facilities of 1,000 MW capacity each apart from a 500 MW Solar Power Park at Sri City Industrial Park.

"The first phase of investment is Rs 1,670 crore out of Rs 8,000 cRore proposed in the state. The project is expected to employ 5,000 people during its operational phase," a statement said.

The MoU was signed in Delhi in the presence of Chief Minister N Chandrababu Naidu, who had visited China prior to his just concluded Singapore trip inviting investments from companies of respective countries.

"LONGi's entry to Sri City assumes greater significance as it would help boost solar power production capacity in the state,"said Ravindra Sanna Reddy, managing director of Sri City.