Hyderabad-based photovoltaic (PV) modules producer Solar Semiconductor has entered into a strategic partnership with Motech Industries Inc of Taiwan for the supply of PV cells valued at about $360 million (Rs 1,440 crore).
Through this partnership, Motech will be supplying PV cells to Solar Semiconductor and cooperate with the latter to explore processing wafers for conversion into cells.
"We have been growing rapidly in recent months and will continue that growth in the coming years. Our focus on quality and customer care has created significant demand for our PV modules. So, it is essential for Solar Semiconductor to obtain more quality cells at competitive prices," Chief Executive Officer of Solar Semiconductor, Hari Surapaneni, stated in a press release.