NEW DELHI: The US-based First Solar said it has invested $700 million in setting up India’s first integrated solar manufacturing plant in TN that was inaugurated on Thursday.

The facilityhas an annual capacity of 3.3 gigawatts (GW) and it will produce the ‘company’s series 7’ Photovoltaic (PV) solar modules for the Indian market. The facility has provided a direct employment opportunity to around 1,000 people, according to a statement.

TN Minister for Industries, Promotions and Commerce TRB Rajaa was the chief guest at the plant’s inaugural ceremony that was also attended by the US ambassador to India Eric Garcetti and CEO of the US International Development Finance Corporation Scott Nathan.

The factory will support India’s ambition to become self-sufficient in solar technology, Rajaa said. Garcetti said the production facility will help advance the global transition to cleaner, greener energy. The facility is First Solar’s sixth operational factory and expands the company’s global manufacturing footprint to four countries, including the US, Malaysia, and Vietnam,” the statement said.