Websol Energy System Ltd.

Websol Energy System has entered into a Term Sheet for establishment of a Joint Venture for the manufacture and production of up to 1.2 GW monocrystalline PERC solar cells and modules in two phases of 600 MW each with AMP Energy India at their existing unit at Falta, West Bengal. It is proposed to set up the unit in a JV company in which Websol will hold 51% and AMP the balance 49%.

The project is to be financed with a combination of Debt and Equity and will have an off take agreement with AMP Energy India for upto 50% of production. The above Term Sheet is subject to both parties agreeing on certain commercial terms and DD, Definitive Agreements.

Websol Energy System is one of the top Indian brands into the manufacturing of photovoltaic crystalline solar cells and the related modules.