Signet Solar, a manufacturer of silicon thin-film photovoltaic modules, is planning 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 $400 million in advance orders for the first three years of production. The company's Germany plant, scheduled to start production by the third quarter, will have a total annual production capacity of 60 MW. Additional production lines will be added to increase manufacturing capacity to over 100 MW in Germany by 2010.
‘We are on schedule to start shipping products from our Dresden, Germany, manufacturing plant by the third quarter of 2008 and plan to begin shipments from India by 2010, with a goal of achieving grid parity pricing within the next five years,’ says Rajeeva Lahri, CEO and founder of Signet Solar.