XI’AN LONGi inks pact with Government of Andhra Pradesh; Sri City and XI’AN LONGi sign another MoU
In an effort to make Andhra Pradesh a solar-panel manufacturing hub in the country, the state government has inked a Memorandum of Understanding (MoU) with China’s XI’AN LONGi Silicon Materials Corp for setting up of a solar module and cell manufacturing plant in AP.
The MoU was signed on Wednesday late evening in New Delhi by the LONGi’s Chairman Baoshen Zhong and Principal Secretary (Energy, Infrastructure and Investment), Government of Andhra Pradesh’s Ajay Jain, in the presence of Chief Minister N. Chandrababu Naidu. Another MoU was signed between Sri City (P) Ltd and XI’AN LONGi Silicon Materials Corp later on.
XI’AN LONGi Silicon Materials Corp is among the top 5 global silicon wafer producers with four production bases in China and 3 GW of wafer capacity.
The Chinese company will invest in a facility for manufacturing solar cells and modules with the capacity of 500 MW at Sri City in Chittoor District of Andhra Pradesh, with an estimated investment of Rs. 1,500 crore. This deal will provide potential employment to 1,000 people.
Speaking on the occasion, Chief Minister N. Chandrababu Naidu said: “This is a very good investment from China in Andhra Pradesh. Solar power is the best solution for sustainable economic growth.”
This is one of the major investments from a Chinese company in Andhra Pradesh following the visit of Chief Minister and the delegation from the Government of Andhra Pradesh in April this year.
“I want to create a Solar Manufacturing hub in Andhra Pradesh. With the interest in the sector from solar manufacturing companies, I’m hopeful that more than 50% of India’s manufacturing capacity will be set up in AP in the long term. Currently, we share 10% of the country’s target for solar power,” the Chief Minister added.
Meanwhile, the Chief Minister also elaborated on the opportunities in the capital city region and how Andhra Pradesh is focusing on creating the best ecosystem for the manufacturing sector.
After signing the MoU, Ajay Jain said: “This is also a success story of China-India trade relations. Our Hon’ble Chief Minister had visited China in April this year, and several companies which we had met there, are now investing in Andhra Pradesh.”
Mr. BaoshenZhong, Chairman, Xi’an Longi Silicon Materials Corporation added: “This plant will manufacture state-of-the-art Solar Modules with higher efficiency than currently available systems. In this way, we are participating in both ‘Make in India’ as well as ‘Innovate in India’. This is just the first step, I’m sure we will invest much more and other companies will follow suit.”
Ravindra Sannareddy, Managing Director, SriCity, signed the MoU on behalf of Sri City and said: “This is the largest Chinese investment in Sri City and what makes this occasion special is that the MoU signing is happening exactly one year after Hon’ble Prime Minister announced ‘Make in India’ program. In addition, we are also doing this within 6 months of AP Chief Minister’s visit to China.”
Source – AP CMO