From pv journal India
Gujarat-based Rayzon Photo voltaic has turn into the primary Indian PV producer to broaden its module manufacturing operations in america. The corporate mentioned it plans to construct a 500 MW TOPCon module manufacturing facility in Atlanta, Georgia. It mentioned 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, significantly america, have began to choose 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 by coming into the photo voltaic market because of the outstanding growth of the sector in India and different nations. The scale of the residential photo voltaic PV market within the US is value $14.21 billion by 2022 and is predicted to develop at a compound annual development charge (CAGR) of 15.3% from 2023 to 2030,” mentioned Nakrani. “The US photo voltaic power market is predicted to report 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 mentioned that advances in PV cell manufacturing expertise 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 geared up to provide mono PERC and TOPCon modules.
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