China's LONGi signs pact to set up solar units in Andhra

Global solar energy equipment manufacturer Xi'an LONGi Silicon Materials Corp of China on Wednesday signed a MOU with Andhra Pradesh government for setting up a solar cell and module production unit there with an investment of Rs.8,000 crore.

Following the visit of Andhra Pradesh Chief Minister N. Chandrababu Naidu to China, LONGi has come out with a large investment plan in Andhra Pradesh.

"It proposes to manufacture 1000 MW solar cells, 1000 MW solar modules, 500 MW solar power park. The first phase of investment is Rs.1,670 crore out of the proposed Rs.8,000 crore. The project is expected to employ 5000 people," a statement said.

LONGi chairman Baoshen Zhong and Sri City managing director Ravindra Sannareddy signed the MoU in the presence of the chief minister.

"LONGi's entry to Sri City assumes greater significance, as it would help boost solar power production capacity in the state. It is as a positive sign in the solar power industry and this will set an example for the future investors," Sannareddy said.