From pv journal India
Gujarat-based Rayzon Photo voltaic has change into the primary Indian PV producer to increase its module manufacturing operations in the US. The corporate stated it plans to construct a 500 MW TOPCon module manufacturing facility in Atlanta, Georgia. It stated it expects the manufacturing unit to begin manufacturing in June 2024.
Rayzon’s entry into the US market comes at a time when India’s PV module exports to different nations, notably the US, have began to select up. Chirag Nakrani, the director of Rayzon Photo voltaic, SPOKE pv journal that the corporate’s choice to enter the US photo voltaic market was principally pushed by the nation’s PV set up potential.
“An increasing number of small corporations are fascinated about coming into the photo voltaic market on account of the extraordinary growth of the sector in India and different nations. The scale of the residential photo voltaic PV market within the US is price $14.21 billion by 2022 and is anticipated to develop at a compound annual progress fee (CAGR) of 15.3% from 2023 to 2030,” stated Nakrani. “The US photo voltaic vitality market is anticipated to file a CAGR of 17.32% within the interval 2022-27, reaching a photo voltaic put in capability of 270 GW by 2027.”
Rayzon Photo voltaic stated that advances in PV cell manufacturing know-how and excessive manufacturing effectivity will assist it scale back its manufacturing prices. The corporate plans to extend its manufacturing capability in India to 2.5 GW in December with the addition of a 1 GW line outfitted to provide mono PERC and TOPCon modules.
This content material is protected by copyright and might not be reused. If you wish to cooperate with us and need to reuse a few of our content material, please contact: editors@pv-magazine.com.
