California-based Signet Solar, manufacturer of solar modules for power generation, plans to invest up to Rs 8000 crore (US$2 billion) in India in the next 5-7 years.

The company on Thursday has introduced its first manufacturing facility in India.

The proposed facility, located near Chennai will initially manufacture silicon thin film photovoltaic modules for 60 MW only. But once it become fully operational, it will cater to a capacity of up to 300 MW.

The first unit of 60 MW will be operational by 2009 and thereafter two units of 60 MW will be added each year till the plant reaches 300 MW. The facility will soak in an investment of Rs 2,000 crore.

Company’s decision to expand manufacturing in India is backed by an order book of over US$ 400 million in advance for the first three years of production. The company also aims to produce modules of 1 GW globally by 2016.

The company’s first plant, with a capacity of producing modules of 100 MW, is coming up in Germany by June 2008.