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ZNSHINE » News » 2024 » ZNSHINE SOLAR and SOLARWORLD India Have Reached an Agreement to Jointly Setup a Photovoltaic Module Production Line in India

ZNSHINE SOLAR and SOLARWORLD India Have Reached an Agreement to Jointly Setup a Photovoltaic Module Production Line in India

Views: 180     Author: Site Editor     Publish Time: 2024-05-21      Origin: Site




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Recently, ZNSHINE SOLAR and SOLARWORLD, one of India's top ten EPC companies, reached a cooperation agreement to establish a PV module production line in India. SOLARWORLD co-founder Kartik and his engineering team visited ZNSHINE SOLAR to discuss the joint venture details and signed the agreement. SOLARWORLD, established in 2013 is a leading EPC Company in India. The Company is based in Noida and has operations all across India.


After nearly a year of negotiations, this visit aimed to finalize cooperation details and sign the final agreement. According to the agreement, the two parties will complete the construction of a 1GW module production line within the next six months, with an expected operational date of March 2025. Both partners aim to become the largest Solar photovoltaic module manufacturers in India. Additionally, ZNSHINE SOLAR will relocate its India office to Noida, in the southern suburbs of Okhla, New Delhi. Noida, part of the National Capital Region (NCR), is a prime location for both central government units and multinational companies.


Since 2018, ZNSHINE SOLAR has been a leading exporter of modules from China to India. This joint venture will further strengthen ZNSHINE SOLAR's competitive advantage in the Indian market, deepen cooperation with local enterprises, and expand its business scope, contributing significantly to the growth of India's renewable energy sector.


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At the end of 2023, Mukesh Mishra, the Sales Director of ZNSHINE SOLAR India, was interviewed by "Electrical & Power Review" magazine. He discussed the company's recent progress, strategic planning, and future vision. Mishra revealed that ZNSHINE SOLAR has supplied modules to multiple integrated PV and distributed power station operators, becoming a leading Chinese supplier in the Indian solar market.Looking ahead, India’s renewable energy market will continue to grow rapidly. According to the Indian government's plan, from the 2024 to 2028 fiscal years, at least 50,000 MW of renewable energy projects will be tendered annually, most of which will be solar power projects. In response to policy adjustments by the Ministry of New and Renewable Energy (MNRE), ZNSHINE SOLAR has introduced advanced technologies suited to the Indian market, strengthened channel cooperation, and established regional distributors in major states to better serve local customers.


This joint venture project is not only a significant strategic move for ZNSHINE SOLAR in the Indian market but also a model of Sino-Indian cooperation in the renewable energy sector. The establishment and operation of the new factory are expected to inject new vitality into India's renewable energy development and promote the further growth of the local PV industry.


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