Korean solar manufacturer Hanwha Q Cells has revealed that it has signed a 70 MW PV module supply agreement with a subsidiary of Indias Adani Group a multinational business conglomerate that has eyed a series of solar investments in recent months.
Hanwha Q Cells will deliver its modules to Ramnad Solar, which is the Adani Group subsidiary that will own and operate the solar plant. Construction is scheduled to begin in October this year, with a completion date penciled in for February 2016.
The solar farm will be located in Indias Tamil Nadu, a southern state that has enjoyed a recent explosion of solar activity.
Earlier this month, Adani Group signed a 648 MW memorandum of understanding (MoU) with the states Generation and Distribution Corporation (TANGEDCO) to develop five solar PV plants in the Ramanathapuram district. In total, this MoU will amount to a $715 million investment in solar in the region over the next few years.
This latest supply deal from Hanwha Q Cells marks another step along the road to solar progress for the state, and for India as a whole, which has been tasked by Prime Minister Narendra Modi to reach 100 GW of cumulative installed solar PV capacity by 2022.
"Hanwha Q Cells is pleased to have partnered with Adani Group, one of Indias major energy companies," said Hanwha Q Cells India SVP, M.Y. Kim. "Solar has received increased support from the government and India has now become one of the more interesting emerging markets."