Mumbai: Webel-Sl Energy Systems, which produces solar photovoltaic (PV) cells and modules in India, has formed a joint venture with a leading PV-cell manufacturing company in Europe to set up a production unit in West Bengal for solar cells and wafers.

Kolkata-based Webel started production about a decade ago by manufacturing 5-inch wafers with an installed capacity of 1 MW (megawatt) in technical collaboration with a European manufacturer.

Now the company has 5 MW capacity and produces different types of PV cells and modules.

The MoU is based on the semi-conductor policy recently announced by the central government, according to which the parties intend to study and assess the feasibility of setting up a production unit of wafers and solar cells with an installed capacity of 100 MWp, that could be expanded up to 200 MWp.

Wafers are thin semiconducting materials on which microcircuits are built. The company did not disclose the name of the new joint venture partner and the investment going into the proposed project.

A year ago, Webel had divested 49-per cent stake in a Singapore-based joint venture company, Solar Energy Power for about Rs2.16 crore.