Two public sector giants, Bharat Electronics Limited (BEL) and Bharat Heavy Electricals Limited (BHEL), today signed a memorandum of understanding (MoU) to explore formation of a joint venture company (JVC) for Solar Photo Voltaic business, setting up manufacturing facility for silicon wafer, solar cells and modules and to identify suitable vendorsôpartners for the supply of raw materials including Poly Silicon for Solar Photo Voltaic business. The JVC, besides export, will cater to Indian solar products requirements.
A capacity of 250 Mw is being envisaged to achieve economies of scale, said V V R Sastry, chairman and managing director, BEL. The location of the proposed facility is still to be decided. The project will leverage government incentives for solar energy to make it economically viable and suitably address the high capital costs. The JV will scout for a suitable technology partner, he said.
K Ravi Kumar, CMD, BHEL said this agreement will leverage the respective core expertise of BHEL and BEL in this business and will enhance product marketability, brand image in the market and allow higher scale of operations and is also expected to play a key role in implementation of National Climate Change Policy in Solar Mission by the government.
