Zynergy plans a solar equipment manufacturing unit in Andhra Pradesh

Zynergy Solar Projects and Services, a vertically integrated solar services company, is planning to set up a solar module and solar cell manufacturing unit in Nellore, Andhra Pradesh. The state government has extended several concessions under the Andhra Pradesh Electronic Policy to the company for setting up the unit. The company will get 100 per cent reimbursement of stamp duty, transfer duty and registration fee paid on sale and lease deeds. There is capital subsidy of 10 per cent on the total investment of Rs 50 million and 100 per cent tax reimbursement of the value added tax/central sales tax for a period of 10 years, subject to a maximum of 100 per cent of fixed capital investment. The government will offer reimbursement for five years for the following categories – Re 1 per unit for 250-500 MW of manufacturing capacity  of cells and modules, Rs 1.25 per unit for 500 MW-1 GW of cells and modules, and Rs 1.5 per unit for 1 GW of cells and modules.

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