The city-based Topaz Solar will set up a 500 MW solar module plant in Odisha for an investment of Rs 240 crore, company officials said here.
Company Chairman Ganesh Natarajan told reporters here of the Rs 240 crore investment for the plant, Rs 180 crore will be invested in plant and machinery.
Of the Rs 240 crore investment, the promoters and investors will chip in with Rs 80 crore while the remaining Rs 160 crore will be raised through debt, Natarajan said.
Topaz has entered into strategicc partnerships with French, German and Polish firms for setting up the plant that will come up near Cuttack.
In the second phase, the company will set up a 700 MW module which will take the total solar module-cum-cell production capacity of the Odisha plant to 1,200 MW in the final stage, he said.
The Odisha government has given single window clearance to the project located in a SEZ classified zone, Natarajan said.
Natarajan said the company would also be setting up skill development centres in eight districts in West Bengal.
The centres will impart training to labourers as well as rooftop installers of solar panels.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)