In two phases of 600 MW each, Websol Energy Systems Limited and AMP Energy India Pvt have signed into a term sheet to form a joint venture for the production of up to 1.2 GW monocrystalline PERC solar cells and modules at their current facility in Falta, West Bengal.
The unit will be established in a JV entity, of which Websol will own 51% and AMP the remaining 49%.
A mix of debt and equity will be used to fund the project, while AMP Energy India Pvt Ltd will be the project’s offtake partner for up to 50% of production.
The aforementioned Term Sheet is dependent on the parties reaching a consensus on a few business-related terms and DD, Definitive Agreements.
