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NEW DELHI: German solar technology firm Manz Automation has formed a joint venture with Delhi-based Technicom-Chemie for promoting generation of sun-based power in India.

The joint venture company, Manz Automation India Pvt Ltd, will market the high technology solar energy equipment and provide technical support for generating power through the renewable and clean means.

The Manz Group which is executing three projects in India may set up production facilities in the country. “The joint venture has the option of local manufacturing,” Manz Automation India Pvt Ltd Managing Director Mr Ajay Chauhan said here.

He said the Indian joint venture is expected to have a turnover of Rs 1,500 crore in the current financial year. Manz Automation manufactures automation equipment, cell tester, wafer tester and back-end printing line for the crystalline silicon solar cel ls.

The cost of photovoltaic cells and other equipment is much higher than the conventional sources of energy. Once the “grid parity (cost equalisation) takes place”, the sector would see a boom, the President and CEO of Manz Automation Mr Dieter Manz said. - PTI

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