Kolkata-based Topaz Solar Power proposes to set up a solar module manufacturing plant in Odisha with an annual capacity to produce 500 megawatts (Mw) of solar panels.
As a report published on Business Standard, this will be the first solar panel manufacturing facility in the state, which of late has identified renewable energy as a priority area.
The project, which will come up on 5 acres of land in the vicinity of Bhubaneswar, is estimated to cost Rs 220 crore. Of this, Rs 80 crore will be in the form of equity with the rest Rs 140 crore being debt. Out of the total project cost, Rs 170 crore will be spent on imported equipment.
The payback period of the project is anticipated to be 6 years. The project will be implemented in two phases — 120Mw in the first phase and the balance 380Mw within 2 years from the commercial production of 120 Mw i.e. three years from the start of the project.
The project will use German and Chinese technology and it will be set up by Stratallig Solar on turnkey basis.