Rayzon Solar Forms Joint Venture with Swiss-German Firm Luxra Group

Rayzon Solar Forms Joint Venture with Swiss-German Firm Luxra Group

India’s solar panel production firm, Rayzon Solar and German-Swiss that makes solar modules,  Luxra Group will be setting up a joint venture towards the production of solar modules in India. The partnership will combine Luxra’s technology and Rayzon’s expertise in operations with regards to PV panel manufacturing.

The joint venture will strive for solar module quality, R&D, skills, and knowledge sharing. With this JV, Luxra will provide access to India, Middle East, Africa, and Europe markets.

In a recent development, Luxra also kickstarted solar module production close to Solapur, Maharashtra. With this initiative, it became the first European firm to begin a solar factory in India.

“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,” stated Unmesh Jagtap, the CEO of Luxra India.

Luxra boasts over 1 GW of global shipments. The firm made headways into the Indian market with operations in 2017. It has set sights on 3.5 GW of capacity by 2025.

Currently on an expansion spree, Rayzon Solar has set sights on augmenting its manufacturing capacity to 2500 MW in India and to start manufacturing of 500 MW in the USA. Under its expansion plan, Rayzon is eyeing 1000 MW to be added in India, which will increase the total capacity to 2500 MW.