Titan Energy to set up $250mn polysilicon plant

Hyderabad-based Titan Energy Systems has entered into a technology tie-up with US and Norwegian companies to set up a polysilicon manufacturing facility at an investment of $250 million (about Rs 1,000 crore) near Hyderabad.

Refusing to divulge the names of the technology partners, Rao SYS Chodagam, managing director of Titan Energy Systems, said, the company had already acquired 300 acres of land for the project and also applied for the SEZ status for the same.

According to him, the technology partners will also be taking 30% equity in the project besides buying back 30% of the product. Polysilicon is a basic raw material used in manufacturing solar cells.