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The L&amp;G <a href="https://www.ntrplc.com/" target="_blank" rel="noopener">NTR</a> Clean Power (Europe) Fund, a joint partnership between L&amp;G’s asset management division, a global investor, and NTR, an Ireland-based renewable energy investor, announced the acquisition of Project Monvallet, a ready-to-build solar and battery energy storage portfolio, with a combined capacity of 211 MW. The project has been acquired from Strategic Power Projects, an Irish project developer.
The portfolio, which is located in Louth County, Ireland, includes two special-purpose vehicles, Monvallet Solar and Hazelboro. The project has a grid and planning in place, with the construction of the solar project expected to begin in 2025 and the battery energy storage system in 2026.
NTR completed the acquisition on behalf of the fund. DLA Piper served as the legal advisor for the fund, while Natural Power acted as the technical advisor on the transaction.
Hazelboro Solar has secured a contract for difference under the Irish Renewable Electricity Support Scheme.
Anthony Doherty, Chief Investment Officer of NTR, commented, “This is a fantastic co-located solar and BESS project we’re announcing today, in a market we know well and one where we can look to deliver strong results for the Fund’s investors. SPP is a respected developer in the Irish market, and we are delighted to be working with them on this portfolio. We are continuously striving to diversify our geographical and technological portfolio to support Europe in its clean energy transition.”
This acquisition was the fund’s second in Ireland. In January 2025, the fund <a href="https://mercomcapital.com/lg-ntr-clean-power-fund-acquires-115-mw-solar-project/" target="_blank" rel="noopener">acquired</a> the 115 MW Ballyteige solar project from RES, a renewable energy company. The project, located in County Offaly, Ireland, has secured a grid and planning agreement.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.

L&G NTR Clean Power Fund Acquires 211 MW Solar and Battery Project Portfolio

L&amp;G <a href="https://www.ntrplc.com/" target="_blank" rel="noopener">NTR</a> Clean Power (Europe) Fund, a joint partnership between L&amp;G’s asset management division, a global investor, and NTR, an Ireland-based renewable energy investor, announced the acquisition of the 115 MW Ballyteige solar project from RES, a renewable energy company.
The project, located in County Offaly, Ireland, has a grid and planning in place. The project is expected to begin construction in 2027. NTR completed the acquisition on behalf of the fund. DLA Piper provided legal advice to the fund on the acquisition.
Anthony Doherty, Chief Investment Officer of NTR, commented, “We are pleased to announce this acquisition in the Irish market, which will contribute to Ireland’s ambitious carbon reduction targets. We are known for our experience in acquiring, building and optimizing projects, all of which will be brought to making this project, in our home market, deliver for the Fund’s investors.”
Bill Hughes, Global Head of Private Markets, Asset Management, L&amp;G, said, “We’re excited to be able to announce this latest addition to the Fund’s portfolio, reflecting our continued success in strategic capital deployment. This new inclusion provides our clients with a broader exposure to clean power assets, investing in sustainable infrastructure that could help drive Europe’s decarbonization.”
According to Mercom’s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
Earlier this month, Emeren Group, a solar project developer, announced the <a href="https://mercomcapital.com/emeren-group-sells-65-mw-solar-project-portfolio-in-germany/" target="_blank" rel="noopener">sale</a> of a 65 MWp solar project portfolio to Trina Solar International System Business Unit (ISBU), Trina Solar’s downstream project development arm. The company did not disclose the financial details of the acquisition.

L&G NTR Clean Power Fund Acquires 115 MW Solar Project

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					</table>Automobile manufacturer <a href="https://global.toyota/en/" target="_blank" rel="noopener">Toyota</a> has announced an $8 billion investment in its United States-based facility, Toyota Battery Manufacturing North Carolina (TBMNC), aiming to increase capacity for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
The expansion will involve adding eight more BEV/PHEV battery production lines to the previously announced two, for a total of ten battery lines. The plant will also have four battery lines for hybrid EVs.
The battery production is expected to rise incrementally through 2030, targeting over 30 GWh annually.
The latest investment tranche will take the total investment to $13.9 billion.
President of Toyota North Carolina, Sean Suggs, said, &#8220;Today&#8217;s announcement reinforces Toyota&#8217;s commitment to electrification and carbon reduction, bringing jobs and future economic growth to the region.&#8221;
North Carolina Governor Roy Cooper hailed this expansion as part of the state&#8217;s transition to a clean energy economy, bringing better-paying jobs and supporting communities for years to come.
In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production.
Toyota has introduced over 24.6 million hybrid, plug-in hybrid, fuel cell, and battery electric vehicles worldwide, with a commitment to providing electrified options for every Toyota and Lexus model across the globe by 2025.
Last month, LG Energy Solution <a href="https://www.mercomindia.com/lg-energy-expand-battery-manufacturing-us" target="_blank" rel="noopener">announced</a> a $3 billion investment in its Michigan facility to establish battery production lines for Toyota. Under the contract, LG Energy Solution will supply 20 GWh of automotive battery modules consisting of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch-type cells annually to Toyota’s motor manufacturing facility in Kentucky to be assembled into battery packs.
In February, Toyota&#8217;s trading arm, Toyota Tsusho Corporation, <a href="https://www.mercomindia.com/toyota-renewables-developer-carbon-neutral-goals" target="_blank" rel="noopener">announced</a> the acquisition of an 85% stake in SB Energy, a renewable energy developer under SoftBank Group, strengthening their joint commitment to carbon-neutral initiatives and clean energy development.

Toyota Announces $8 Billion Investment in its US Battery Facility

Morrow Batteries, a Norwegian battery manufacturer, announced that it is <a href="https://cms.mercomindia.com/morrow-batteries-raises-74-million-funding/" target="_blank" rel="noopener">raising</a> up to EUR 70 million (~$74 million) in new capital from its existing shareholders. The funding is expected to support the company’s next-generation battery developments and bring it closer to commercial production. The capital will be raised in two tranches, with the first approved by the company’s extraordinary general meeting on September 22. The second tranche will be proposed for approval later this year. The funds will mainly be used to finance the construction and development of the Morrow Industrialization Center on the Battery Coast of Southern Norway.
Battery manufacturer LG Energy Solution has <a href="https://www.mercomindia.com/lg-energy-solution-raises-1-billion-green-bonds" target="_blank" rel="noopener">raised</a> $1 billion through its inaugural global green bonds. The funds raised will be used to expedite investments in the company’s global battery production network. The bond issuance consists of a three-year bond worth $400 million and a five-year bond valued at $600 million. The three-year bond attracted orders from 114 institutional investors, while the five-year bond saw interest from 186 investors, resulting in a total order volume five times greater than the bond issuance size.
Yotta Energy, a lithium ion-based energy storage solutions provider, <a href="https://cms.mercomindia.com/energy-storage-solutions-provider-yotta-energy-secures-funding/" target="_blank" rel="noopener">secured</a> $8 million in a funding round led by Evergy Ventures and with participation from strategic investors BlueScope and Cricetus Felix Ventures and existing investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund. The funding is expected to help the company scale up manufacturing and accelerate the deployment of its SolarLEAF battery technology.
Openvolt, a provider of software solutions for energy data, <a href="https://cms.mercomindia.com/energy-data-startup-openvolt-raises-in-pre-seed-funding/" target="_blank" rel="noopener">secured</a> €1.5 million (~$1.6 million) in a pre-seed round led by Berlin-based early-stage investor Cavalry Ventures, with participation from climate investor Übermorgen Ventures. The company is developing a smart meter API (Application Programming Interface) to unlock the data to plan and manage electrified assets. The funding round will enable Openvolt to accelerate the development of its API.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-verkor-raises-1-5-billion/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Morrow Batteries Raises ~$74 Million in Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-morrow-batteries-raises-74-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Morrow Batteries, a Norwegian battery manufacturer, announced that it is <a href="https://mercomcapital.com/morrow-batteries-raises-74-million-funding/" target="_blank" rel="noopener">raising</a> up to EUR 70 million (~$74 million) in new capital from its existing shareholders. The funding is expected to support the company’s next-generation battery developments and bring it closer to commercial production. The capital will be raised in two tranches, with the first approved by the company’s extraordinary general meeting on September 22. The second tranche will be proposed for approval later this year. The funds will mainly be used to finance the construction and development of the Morrow Industrialization Center on the Battery Coast of Southern Norway.
Battery manufacturer LG Energy Solution has <a href="https://www.mercomindia.com/lg-energy-solution-raises-1-billion-green-bonds" target="_blank" rel="noopener">raised</a> $1 billion through its inaugural global green bonds. The funds raised will be used to expedite investments in the company’s global battery production network. The bond issuance consists of a three-year bond worth $400 million and a five-year bond valued at $600 million. The three-year bond attracted orders from 114 institutional investors, while the five-year bond saw interest from 186 investors, resulting in a total order volume five times greater than the bond issuance size.
Yotta Energy, a lithium ion-based energy storage solutions provider, <a href="https://mercomcapital.com/energy-storage-solutions-provider-yotta-energy-secures-funding/" target="_blank" rel="noopener">secured</a> $8 million in a funding round led by Evergy Ventures and with participation from strategic investors BlueScope and Cricetus Felix Ventures and existing investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund. The funding is expected to help the company scale up manufacturing and accelerate the deployment of its SolarLEAF battery technology.
Openvolt, a provider of software solutions for energy data, <a href="https://mercomcapital.com/energy-data-startup-openvolt-raises-in-pre-seed-funding/" target="_blank" rel="noopener">secured</a> €1.5 million (~$1.6 million) in a pre-seed round led by Berlin-based early-stage investor Cavalry Ventures, with participation from climate investor Übermorgen Ventures. The company is developing a smart meter API (Application Programming Interface) to unlock the data to plan and manage electrified assets. The funding round will enable Openvolt to accelerate the development of its API.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-verkor-raises-1-5-billion" target="_blank" rel="noopener">roundup</a>.

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					</table>Here are some noteworthy cleantech announcements of the day from around the world:
LG Electronics <a href="https://www.lgcorp.com/media/release/24999" target="_blank" rel="noopener">announced</a> the acquisition of the South Korean EV charger solutions provider, AppleMango, jointly with GS Energy and GS Neotek. The acquisition is expected to accelerate the growth of LG’s EV charging solution business and enable the company to take advantage of future business opportunities. This strategic move, combined with LG’s expertise and wealth of experience in B2C and B2B segments, is expected to enable the company to create fully-featured charging stations boasting a user-friendly interface and real-time management. The acquisition would help LG become an integrated solutions provider, bringing together its new charger development capabilities and existing in-house-developed EV charging management system.
<a href="https://www.prozealinfra.com/" target="_blank" rel="noopener">Prozeal Infra Engineering</a>, an Electric Vehicle (EV) charging infrastructure and a solar power project developer, has received a letter of award from the <a href="https://www.suratmunicipal.gov.in/" target="_blank" rel="noopener">Surat Municipal Corporation</a> for the supply and installation, operation, and maintenance (O&amp;M) of 25 DC fast EV chargers. The chargers will be installed at 25 locations across Surat. Chargers with a configuration of CCS 2.0 (50 kW) + CCS 2.0 (50 kW) + Type 2 AC (22 kW) will be provided as part of the tender, along with ten years of comprehensive O&amp;M. The project is estimated to be worth ₹140 million (~$1.78 million).
<a href="https://www.oil-india.com/" target="_blank" rel="noopener">Oil India</a> announced that it completed the beta demo of its hydrogen-powered bus developed under its startup program SNEH (Start-up Nurturing, Enabling &amp; Handholding). The nine-meter bus is built on a 60 kW PEM (polymer electrolyte membrane) Fuel Cell engine and will power the electric drive providing a minimum range of 450 km while emitting water in the exhaust. It is intended to be used in Kaziranga, Assam, by the end of this year to promote Green Tourism.
Bank of America <a href="https://www.constellationenergy.com/newsroom/2022/Bank-of-America-Builds-on-Its-Environmental-Commitment-to-Power-Its-Operations-with-Renewable-Energy-Signs-New-Offsite-Solar-Energy-Agreement-with-Constellation.html" target="_blank" rel="noopener">announced</a> a 15-year, 160 MW agreement with Constellation, a U.S.-based renewable energy developer, to purchase power and project-specific renewable energy certificates (RECs). This agreement will help Bank of America power approximately 17% of its global electricity consumption with clean, renewable energy from a portion of the Mammoth Central project. The portion will be the third and final phase of the broader Mammoth Solar project, which Doral Renewables is developing in Starke and Pulaski counties in Indiana. Bank of America will receive renewable energy and RECs from Mammoth Central as part of its retail electricity supply contract with Constellation, covering locations in Delaware, Pennsylvania, and Virginia. By powering its facilities in these locations with solar energy, Bank of America is expected to reduce greenhouse gas emissions associated with its energy use by more than 95,000 metric tons annually. The agreement will begin when the project construction has been completed in late 2024. By purchasing the RECs, Bank of America is also helping facilitate the development of this project, which will provide renewable energy to the broader electric grid.
The Kraft Heinz Company <a href="https://www.businesswire.com/news/home/20220627005736/en/Kraft-Heinz-Announces-Agreement-with-Repsol-in-Company%E2%80%99s-First-Wind-Energy-Investment" target="_blank" rel="noopener">announced</a> a 12-year virtual power purchase agreement with Repsol, a global multi-energy company based in Madrid, Spain. The agreement is the company’s first investment in wind energy and is designed to help Kraft Heinz achieve its aspiration of procuring the majority of its electricity from renewable sources by 2025. Kraft Heinz is expected to source over 90 GWh of renewable energy annually from Repsol’s largest wind project, Delta II in Aragon, Spain – equivalent to powering approximately 90% of Kraft Heinz’s European manufacturing sites. The agreement is expected to generate enough renewable electricity to power approximately 25,000 average EU households annually at its peak.

Daily News Wrap-Up: LG Electronics Acquires AppleMango, Enters EV Charging Business

Here are some noteworthy cleantech announcements of the day from around the world:
Digital information and communications technology solutions provider Sify Technologies <a href="https://www.globenewswire.com/news-release/2022/02/23/2389997/0/en/Sify-Data-Centers-to-Invest-in-over-200-MW-of-Green-Power.html" target="_blank" rel="noopener">announced</a> a major commitment to renewable energy for its growing data center portfolio in India. The company recently concluded power purchase agreements (PPA) with Vibrant Energy Holdings for a total of 231 MW of solar and wind energy capacity to power Sify’s latest hyperscale data centers. Of which 67 MW solar PPA had been signed in March 2021 and recently commissioned. Sify will soon deliver most of the power required for its flagship data centers in Mumbai from renewable sources and will continue increasing renewable penetration across its nationwide footprint. Vibrant Energy is a portfolio company indirectly invested in by Macquarie’s Green Investment Group and operates on a standalone basis.
Hero MotoCorp and Bharat Petroleum Corporation Limited plan to <a href="https://www.heromotocorp.com/en-in/uploads/media/pressrelease_pdf/20220222105512-pdf-119.pdf" target="_blank" rel="noopener">set up</a> charging infrastructure for two-wheeler electric vehicles (EVs) across the country. Hero MotoCorp claims to become the first automotive OEM to tie up with the leading public sector undertaking to set up charging infrastructure across the length and breadth of India. Bharat Petroleum, accelerating its focus on new business segments for sustainable growth, announced that it is converting 7,000 conventional retail outlets into energy stations providing multiple fueling options, including an EV charging facility. In the first phase, charging stations will be set up across nine cities, starting with Delhi and Bengaluru.  Hero MotoCorp will soon commence the infrastructure development in the two cities. Each charging station will feature multiple charging points, including DC and AC chargers, and will be available for use to all two-wheeled EVs. The entire user charging experience will be controlled by a Hero MotoCorp Mobile-App and will be a cashless transaction model.
Pegasus Group <a href="https://www.pegasusgroup.co.uk/pegasus-group-secures-planning-permission-for-corner-copse-solar-farm-swindon/" target="_blank" rel="noopener">secured</a> planning permission for a 50 MW solar and battery storage project near Swindon on behalf of JBM Solar Projects. According to Pegasus, the project brings significant benefits, primarily through renewable energy generation, providing enough low-carbon electricity to power the equivalent of 15,500 homes&#8217; annual energy needs. The proposed solar farm will involve the temporary change of use of the land, but due to the time-restricted nature of the development, the agricultural use will be retained in the long term. The site will also be capable of dual-use farming during its operational period, with small livestock that can graze the land between and amongst the panels. It is estimated that there will be up to 80 construction workers on-site during peak times of the construction period, which is expected to be around six months, and an additional 106 temporary jobs in the wider economy during the six-month build phase.
KPI Global Infrastructure <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/e0445d85-f711-4c09-ac3e-3f27ea3d9bfe.pdf" target="_blank" rel="noopener">bagged</a> a repeat order from Anupam Rasayan India Limited (ARIL) for executing solar power projects of 7.5 MWdc capacity under the captive power producer segment. KPI Global has successfully executed and commissioned 12.50 MWdc for ARIL in September 2021. Recently, the company had bagged orders from Veekey Prints, Priyanshi Creations, and Navnidhi Dyeing and Printing Mills for executing solar power projects of 2.964 MWdc capacity under the captive power producer segment.
Outdoor Advertising agency Zest Outdoor announced the launch of its Green India mission with 12,000 solar panels in Mumbai that will be used for advertising. The solar panels will be used as hoardings that will be open for brands to advertise. The renewable energy that emerged out of these solar-powered hoardings would be used by the Western Railways as part of the Phase 1 project. There will be 17 hoardings that will stand at the prime locations in Western Mumbai. According to Zest Outdoor, the India Book of Records and Asia Book of Records awarded them &#8220;The first billboards to generate solar energy for Western Railways.&#8221;

Daily News Wrap-Up: Sify’s Data Centers in Mumbai to be Powered With Green Energy

Here are some noteworthy cleantech announcements from around the world:
<a href="https://www.lg.com/global" target="_blank" rel="noopener noreferrer">LG Electronics</a> <a href="http://www.lgnewsroom.com/2020/12/lg-and-magna-enter-joint-venture-agreement-to-expand-in-powertrain-electrification-market/" target="_blank" rel="noopener noreferrer">announced</a> its plans to set up a joint venture (JV) with Canada-based automotive supplier <a href="https://www.magna.com/" target="_blank" rel="noopener noreferrer">Magna International</a> to manufacture electric motors, inverters, and on-board chargers. It also plans to manufacture related electronic drive systems to support the growing global shift toward vehicle electrification for specific automakers. The JV will be tentatively called ‘LG Magna e-Powertrain’ and aims to capture the market for these components, which is expected to grow significantly before 2030.
Government-owned Bharat Heavy Electricals Limited (<a href="https://www.bhel.com/" target="_blank" rel="noopener noreferrer">BHEL</a>) said it has <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/4b69a3d8-0196-4090-812f-c0752eadf712.pdf" target="_blank" rel="noopener noreferrer">secured</a> electro-mechanical (E&amp;M) work orders worth ₹32 billion (~$437.4 million). The orders are for a hydroelectric project in Andhra Pradesh, and E&amp;M works for pump-motor sets for lift irrigation programs in Telangana. The E&amp;M order in Andhra Pradesh is for manufacturing and supplying Kaplan hydro turbines – the country’s largest unit-rated turbines. BHEL received these work orders from engineering, procurement, and construction contractors of the projects &#8211; Megha Engineering and Infrastructure.
<a href="https://www.filatex.com/" target="_blank" rel="noopener noreferrer">Filatex India Limited</a>, a polyester filament yarn manufacturer, <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/97f69a89-b446-4e1d-a4fe-3f41969f1327.pdf" target="_blank" rel="noopener noreferrer">announced</a> that it completed and commenced commercial operation of its captive rooftop solar power projects at Dahej and Dadra on December 30, 2020. The Dahej project was rated at 1 MW in capacity, while the one in Dadra was rated at 400 kW.
The Ministry of Finance of the People’s Republic of China (<a href="http://www.mof.gov.cn/" target="_blank" rel="noopener noreferrer">MOFPRC</a>) <a href="http://jjs.mof.gov.cn/zhengcefagui/202012/t20201231_3638812.htm" target="_blank" rel="noopener noreferrer">issued</a> a notice aimed at improving the financial subsidy policy for the promotion and application of new energy vehicles. It said that the current framework for purchase subsidies would remain unchanged in 2021 to help create a stable policy environment. It also proposed to improve the methods and standards for new energy vehicle testing.  It plans to instill a sense of responsibility in manufacturers to encourage them to voluntarily carry out defect investigations and recalls. The ministry said the notice would come into effect starting January 1, 2021.

Daily News Wrap-Up: BHEL Wins ₹32 Billion Work Orders for Hydro Turbines and Pumpsets

South Korean electronics company, <a href="https://www.lg.com/us/mobile" target="_blank" rel="noopener">LG</a> Electronics, is planning to develop a 500 MW solar module manufacturing unit in Huntsville, Alabama. The company is planning to invest $28 million in the facility which in turn would help create 160 new job opportunities.
According to a media release from the Alabama Governor’s office, LG will build the new factory with two production lines at an existing building on the company&#8217;s 48-acre campus in Huntsville.
&#8220;LG has a long history as a leading corporate citizen in Alabama. Now, LG is launching our state’s first solar manufacturing plant, which represents a major milestone both for Alabama and for the company,” Governor Kay Ivey was quoted as saying.
The new LG Alabama factory is expected to produce 500 megawatts of the company&#8217;s high-performance N-type solar panels annually, starting in early 2019.
Soon Kwon, global president of the LG also commented on the development, saying, “The new solar plant will help LG better serve its U.S. customers. The company selected Alabama after conducting a competitive, multistate search.”
The new solar module plant builds on LG’s legacy of leadership in Huntsville. After starting the company’s first U.S. manufacturing subsidiary in 1981, Huntsville became the home of LG’s service division in 1987, which expanded over the years to support LG’s growing presence in the country.
LG joins Jinko Solar, and Hanwha Q Cells in announcing module manufacturing in the United States after President Trump announced a <a href="https://mercomindia.com/trump-imposes-antidumping-solar/" target="_blank" rel="noopener">30 percent</a> duty on imported modules. The Trump administration has not been all bad for the U.S. solar industry. Corporate tax cuts and the latest ruling by the U.S. internal revenue service <a href="https://www.natlawreview.com/article/irs-issues-beginning-construction-guidance-solar-projects" target="_blank" rel="noopener">extending</a> the 30 percent investment tax credit by two years has also boosted the U.S. solar market and attracted new investment announcements.
The potential of a <a href="https://mercomindia.com/domestic-manufacturers-safeguard-duty-imported-panels/" target="_blank" rel="noopener">safeguard duty</a> in India may also attract manufacturing plant investments for international companies. Chinese manufacturer Longi solar <a href="https://mercomindia.com/longi-solar-india-expansion/" target="_blank" rel="noopener">announced</a> plans to double the capacity of its cell and module manufacturing facility in India from 500 MW to 1 GW in the state of Andhra Pradesh.
“The announcement by the Chinese government to cut solar feed-in tariffs and impose installation caps has created a module oversupply situation that will shrink domestic demand, which will likely push Chinese and other Asian solar manufacturers to expand and invest in markets abroad,” said Raj Prabhu, CEO of Mercom Capital Group.
Image credit: Flickr

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