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Photovoltaic firm ties up with German co.
| The partnership is valued at Rs. 2,300 crore in the next three years |
HYDERABAD: Solar Semiconductor, a solar photovoltaic (PV) modules and services, on Thursday entered into a strategic partnership with IBC Solar of Germany, a distributor of system integrators of solar PV products in Europe. The partnership is valued at Rs. 2,300 crore ($575 million) in the next three years.
Solar Semiconductor CEO Hari Surapaneni told a press conference here that the company had an order book of over Rs. 3,000 crore. The company, which had a turnover of Rs. 50 crore last year (operations commenced in September 2007), would touch a turnover of Rs. 1,200 crore this year. The company was enhancing its capacity of solar PV module production to 200 MW. While the existing plant was of 50 MW capacity, a new plant would be set up in the Fab City at a cost of $100 million.
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