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Signet Solar plans R&D facility

Special Correspondent

CHENNAI: California-headquartered Signet Solar, which has committed to invest $2 billion to set up three photovoltaic (PV) production facilities, is planning to set up an R&D (research and development) unit also in India.

In an interaction with The Hindu here on Monday, Rajeeva Lahri, founder and Chief Executive Officer of the company, said the proposed R&D facility in India would focus on system design. Signet had decided to have an R&D facility in Germany, where it had already commenced construction of its first global manufacturing facility. Mr. Lahri said the proposed facility would work in close co-operation with the one in Germany.

He was confident that the construction work for its maiden plant in India would begin by the first quarter of 2008. The initial investment in the first facility would be $150 million, he said. The first unit would have a capacity of 60 MW. The PV panels convert sun light into energy. Signet would import the equipment from the U.S. The company would bring in thin-film technology to make PV modules. Signet had already short-listed a few States, he said.

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