Signet Solar, a leading manufacturer of silicon thin film photovoltaic (PV) modules and user of industrial and specialty gases, has announced plans to locate its second manufacturing site in the Sriperembudur Special Economic Zone near Chennai, India.
Signet Solar’s decision to expand manufacturing in India follows more than $400m in advance orders for the first three years of production. The company’s German plant is scheduled to start production by Q3 2008 and will have a total annual production capacity of 60 MW.
The announcement could be seen as a further sign of the rapidly developing PV and wider electronics market that is expected to boom over the course of the next five years, with the industrial and specialty gas market set to prosper as the demand for materials and ultimately gases increases accordingly.
“We are on schedule to start shipping products from our Dresden, Germany manufacturing plant by Q3 2008 and plan to begin shipments from India by 2010, with a goal of achieving grid parity pricing within the next five years,” said Rajeeva Lahri, CEO and Founder of Signet Solar.
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