Indian solar photo-voltaic cell maker Indosolar is in discussions with Chinese polysilicon maker GCL-Poly Energy Holdings for $2 billion solar deal, Reuters reports. Indosolar already has a wafer supply contract with GCL worth $565 million, which was expected to run till 2014. Indosolar is now planning to close that contract.
Indosolar is also seeking to get into manufacturing of solar modules to meet the growing demand in the solar power market in India, pegged at $70 billion. The company has lined up a consortium of lenders led by Union Bank of India for loans of approximately $8.37 billion for the development.
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