Adani Enterprises Ltd.

Adani Enterprises, the flagship company of Adani Group, India’s leading integrated infrastructure player and SunEdison Inc., a leading solar technology manufacturer and provider of solar energy services, have signed a Memorandum of Understanding (MoU) to establish a Joint Venture to build the largest, vertically integrated solar photovoltaic manufacturing facility in India with an investment of around $4 billion.

The facility will create enough solar panels to fuel substantial solar growth in India, furthering India’s goals for clean, renewable energy independence. The new $4 billion facility will be constructed in Mundra, Gujarat, India, over a three to four year period. This facility will vertically integrate all aspects of solar panel production on site, including Polysilicon refining, ingots, wafers, cells and panels production with a broader ecosystem involving extended supply chain for raw materials and consumables.

Adani Enterprises is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.