Swiss-German company Luxra Group and India’s Rayzon Solar have agreed to set up a joint venture for PV module production in India. The partnership will combine Luxra’s technology and Rayzon’s operational expertise in PV panel manufacturing.
September 25, 2023 Uma Gupta
Image: Luxra
From pv magazine India
Luxra Group and Rayzon Solar have signed agreed to form a joint venture for solar module production in India. They said their venture will strategically focus on PV module quality, extensive R&D, skills, and knowledge sharing for PV module production.
Luxra recently started PV module production near Solapur, in the Indian state of Maharashtra, becoming the first European company to start a solar factory in India. Luxra will provide the joint venture with access to markets in India, the Middle East, Africa, and Europe.
“Joint contribution of our technology and Rayzon’s operational expertise to the said joint venture will strongly allow us to position both the companies in the industry in a much faster way,” said Unmesh Jagtap, the CEO of Luxra India.
Chirag Nakhrani, the founder of Rayzon Solar, said that the partnership will contribute to the expansion of Rayzon’s presence and leadership in the PV market.
Luxra claims more than 1 GW of global shipments. It started its Indian operations in 2017 and is targeting more than 3.5 GW of capacity by 2025.
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