U.S' First Solar to invest in India to make Solar panels: Report

U.S based First Solar will invest billions of dollars in India to make solar panels, reported The Economic Times. The report quoted U.S energy secretary Jennifer Granholm and said that the company will produce the panels without sourcing materials from China.

"Funding-wise, India has committed, and the private sector is clearly listening. For example, US firm First Solar will invest billions of dollars for production of solar panels in India that does not depend on any materials from China. They are doing the same expansion in the US", Granholm told Economic Times.

As per the report, Granholm also mentioned that Tesla is in discussions to invest in the country. Last month, Tesla CEO Elon Musk had said that Tesla will be in India "as soon as humanely possible"

Also Read: Elon Musk's Tesla eyes India to set up its supply chain: Report

Jennifer Granholm was in India for the India-US Strategic Clean Energy Partnership meet that was held on Tuesday. She met Union Minister of oil & gas Hardeep Singh Puri and Minister of state for new and renewable energy RK Singh during her visit.

Granholm elaborated on the ways in which both the countries can benefit from each other. She also mentioned that U.S will bring 17 labs to partner with India as part of the committment reached to create innovative investment platforms during Prime Minister Narendra Modi's visit to the U.S

"The pillar of a green strategic partnership - whether it is biofuels, green hydrogen, offshore wind, or grid or energy storage, the whole gamut of technologies - (is that) each country brings something, so we can learn from each other. We launched something new mentioned in the leaders' summit. We will bring our 17 national labs to partner India on its own ambitions. We talked about this with minister Puri", Granholm told Economic Times.