(Reuters) -India’s Jakson Engineers will invest more than 80 billion rupees ($914 million) to build a 6 gigawatt solar cell and module manufacturing plant in the central state of Madhya Pradesh, Jakson Solar said on Tuesday.
The two privately-held companies are a part of the energy solutions conglomerate Jakson Group, which is betting on the growing demand for renewable energy in India, where the government aims to add at least 500 GW of clean energy by 2030.
The group has 1.2 GW solar module manufacturing capacity.
“This (the investment) will allow us to ensure quality, cut costs and rapidly deploy new technology,” Gagan Chanana, managing director and chief executive at Jakson Solar, said in a statement.
Earlier this year, another unit of the group, Jakson Green told Reuters that it is looking to add 1 GW of renewable capacity per annum for the next five years.
($1 = 87.5060 Indian rupees)
(Reporting by Sethuraman NR and Manvi Pant; Editing by Mrigank Dhaniwala)
