Amaravati, Sep 25 (UNI) US-based Triton Solar Company entered into an MoU with AP Economic Development board to set up a solar batteries manufacturing plant in AP under PPP mode.
The plant helps for conversion of electrical vehicles and secure 200 mw solar power storage supply to meet the state solar energy needs. The company came forward to set up a solar battery manufacturing plant at a cost of Rs.727 crore after Andhra Pradesh Chief Minister N Chandrababu Naidu held discussions with the delegates of the company in New York on Tuesday.
When the Chief Minister explained the priority of the state government to introduce electrical vehicles in the state, the company chairman Himansu Patel, managing partner Nand Sandilya came forward to set up plant in the state.
The company representatives entered into an MoU with EDB in the presence of Chief Minister N Chandrababu Naidu, Principal secretary of Industry and investments Ajay Jain, AP Economic Development board CEO Jasti Krishna Kishore.
The company heads informed that they are ready to invest Rs.727 crore in a phased manner in the solar battery unit producing batteries basing on nano and lithium polymer technology. They said that the company would generate huge employment opportunities to local youth. In addition it would help to reduce vehicle pollution in the state.
The Chief Minister appealed to the investors to come forward to set up plants in investor’s destination AP. It may be mentioned here that the AP Chief Minister is in the USA to address seminar, organised by the UNO in New York.