Goldi solar has signed a MoU with Desert Technologies to expand renewable energy prospects in India, Saudi Arabia, and worldwide. The MoU is a part of the India-Saudi energy cooperation agreement. Under this, Goldi Solar will provide TOPCON/HJT technology to localise a sizable amount of the manufacturing and research and development processes for renewable energy in India.
The MoU envisages to create original equipment manufacturer supply for photovoltaic (PV) module manufacturing, PV cell production, EVA encapsulants, and manufacturing of back sheets. The companies will be working together on projects across various fields, with technology roadmaps, method optimisation, development of new product, amongst others, in addition to advancing the manufacturing sector. Furthermore, both companies will also lead partnerships within their respective countries with public and semi-public organisations, besides their relationships with private sector. Furthermore, the companies may also collaborate to implement projects within India and take advantage of investment opportunities across various foreign markets, including those in Europe and America, upon mutual agreement.
In September 2022, Goldi Solar announced plans to invest Rs 50 billion by the year 2025 to expand its module manufacturing capacity to 6 GW. The company’s expansion would be focused on auxiliary production including aluminium frames, junction boxes and backsheet.