Investment Cyclone Makes Landfall In India! First Solar To Make Solar Panels In India; NO CHINA INPUT: US Energy Secretary Jennifer Granholm

Synopsis

Founded in 1999, First Solar is a leading US solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change, according to its website. It is unique among the world’s 10 largest solar manufacturers for being the only US-headquartered company that’s not manufacturing in China

US energy secretary Jennifer Granholm indicated that Tesla is in discussions for investing in India.

◆ Google will be investing $10 billion in India’s digitisation fund and announced the opening of a global fintech operation centre in GIFT city Gujarat.
◆ Amazon bets big on India, to invest and additional $15 billion over next 7 years
◆ Walmart readies another $8.5 billion investment in India’s e-commerce and payments
◆ iPhone manufacturing in India to reach 50% by 2027 on par with China
◆ Temasek Holdings looking to invest $10 billion in India in 3 years

First Solar of the US will invest “billions of dollars” for solar panel production in India that will not source materials from China.

■ Founded in 1999, First Solar is a leading US solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. It is unique among the world’s 10 largest solar manufacturers for being the only US-headquartered company that’s not manufacturing in China.  

India brings the notion of scale, and the US contribution is what we are doing to encourage research and production. This combination helps us achieve both goals.”
■ She was in the state capital for the India-US Strategic Clean Energy Partnership Conference.
Asked about Tesla’s plans to invest in India following recent meetings between Prime Minister Narendra Modi and CEO Elon Musk, he said the automaker was in talks with the Indian government.
Mr. Musk said last month that Tesla would enter India “as soon as humanly possible.”
■ “It is not surprising that the United States sees India as an important partner in the clean energy transition,” Granholm said after meeting with Oil and Gas Minister Hadid Puri. “India has provided a large amount of green hydrogen.”

During Prime Minister Modi’s recent visit to the United States, it is recalled that the two countries have worked to build an innovative investment platform that will effectively reduce the cost of capital and attract large-scale international private capital to accelerate the deployment of greenfield renewable energy, storage batteries and emerging green technology projects in India. 

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