US firm to set up $100 mn solar plant in Karnataka

US-based Triton Solar would set up a $100-million (Rs.670 crore) plant in Karnataka to manufacture nanotech-powered solar panels for the renewable energy sector, an official statement said on Thursday.

An agreement to set up the hi-tech facility was signed by Triton's Indian-born chief executive Himanshu B. Patel and state's Additional Chief Secretary Ratna Prabha in New York last week.

Prabha was in the US along with state Industries Minister R.V. Deshpande on a roadshow to woo American investors and enterprises to the ensuing 'Invest Karnataka 2016' event on February 3-5, 2016 in Bengaluru.

"Triton will 'make in Karnataka' solar panels for the world and its investment will generate 250 direct jobs and many more indirect jobs," Deshpande said in the statement here.

The New Jersey-headquartered Triton makes printed solar panels, lighting and batteries using nanotechnology.

The statement, however, did not disclose the proposed plant's location and other specifics.

"I am confident of producing world class solar products from Karnataka," the statement said quoting Patel.

Patel, who founded Triton, also lauded the state government for facilitating its investment and supporting its foray into the southern state.

Using nanotechnology, Triton also makesAprintable batteries, printable lighting and printable solar panels.