Premier Energies, Taiwan's SAS form JV for 2 GW solar wafer unit in India
New Delhi:
Premier Energies
Limited has signed a joint venture agreement with Taiwan-based Sino-American Silicon Products Inc. (SAS) to set up a 2 GW per annum
silicon wafer
manufacturing plant in India. Under the agreement, Premier Energies will hold a 74 per cent stake and SAS will hold 26 per cent.
SAS, through its subsidiary GlobalWafers Co. Ltd., is the third-largest global manufacturer of semiconductor silicon wafers. The new facility will slice polysilicon ingots into wafers for use in the production of
photovoltaic cells
and modules.
The venture marks Premier Energies' backward integration into solar wafer production and is aimed at strengthening the local
solar manufacturing value chain
.
'This agreement marks the start of our backward integration into solar wafers. We are excited to partner with SAS to produce high-quality solar wafers to increase the share of local manufacturing in the solar value chain. The JV will play a pivotal role in strengthening the
Make-in-India policy
initiative of the Indian government,' said Chiranjeev Saluja, Managing Director, Premier Energies.
Doris Hsu, Chairperson and CEO of Sino-American Silicon Products Inc. and GlobalWafers Co., Ltd., said, 'This cooperation will be an important step for our future development in India. SAS and Premier Energies will bolster a critical aspect of the solar supply chain among various industries in India domestic and overseas markets. Furthermore, this can enhance both operational resilience and seize the strong demand of the Indian market.'
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