New Jersey-headquartered Triton Solar which specializes in printable solar cells has signed a Letter of Intent (LoI) with government officials of Indian state Karnataka to build a $100 million printed solar cell factory, with production set to begin in August next year.
The LoI was signed by Ratna Prabha, Karnatakas additional chief secretary to the commerce and industries department, and Triton Solar CEO Himanshu B Patel at delegate gathering in New York.
Patel confirmed that Triton Solar would aim to have the new fab online by August next year, alongside another fab being constructed in the state of Madhya Pradesh. "We are working aggressively in order to meet the deadlines and by next August, our manufacturing facility will be likely to come up with its production," he said. "The company will be making investment of INR 600 Crore [$100 million] through this facility."
According to Triton Solar, its first fab will be located in the Pithampur Industrial area of Madhya Pradesh and will likely create around 250 local employment opportunities during the course of its construction and operation.
Inside the Karnataka fab, Triton Solar will produce its nanotechnology-powered solar cells using its patented printing technique that can produce solar energy via ambient lighting, without the need for direct sunlight.
Despite the lower efficiencies inherent to these nano and organic solar cells, their flexibility and versatility makes them an attractive option for some applications, particularly in the sector of building integrated photovoltaics (BIPV).