Trans-India Acquisition Corp. has entered into a definitive agreement to acquire at least 80% of privately held Solar Semiconductor Ltd., which designs, manufactures and sells solar photovoltaic modules.
Solar Semiconductor has manufacturing plants located in Hyderabad, India, with a current annual capacity for 75 MW of module production. The company is also nearing completion of a campus facility with a projected module capacity of 120 MW and cell capacity of 60 MW.
‘We are pleased to merge with Trans-India Acquisition, which will enable us to fuel our rapid growth and timely execute our business strategy,’ says Hari Surapaneni, president and CEO of Solar Semiconductor.
SOURCE: Solar Semiconductor