Vikram Solar, Phalanx Impact Partners, and Das & Co. announced late last week that they have formed a new U.S. joint venture and majority U.S.-owned and operated company, VSK Energy LLC, with plans to invest up to $1.5 billion to develop a vertically integrated solar manufacturing operation in the United States.
With two planned projects, VSK extends Vikram Solar's 17 years of solar manufacturing experience to the United States with financial support from sustainability-focused private equity firm Phalanx Impact Partners and Das & Co.’s extensive network and expertise in the solar industry in the United States, India and emerging markets.
VSK Energy is highly committed to purchasing the majority of its equipment from U.S. and European Union sources with the goal of reducing U.S. reliance on Chinese equipment suppliers within the solar industry. The first of the two planned projects for the joint venture will be a solar photovoltaic module production facility in Brighton, Colorado, that is expected to be online by the end of 2024 with an estimated 900 new direct manufacturing jobs and more than 200 construction jobs.
Mortenson will oversee the engineering and construction of both projects with plans to hire hundreds of team members from the local communities involved in the project, including pipefitters, electricians, sheet metal workers, plumbers, operators, carpenters, laborers, safety professionals, and more.
Brad Heitland, Director of Business Development for Mortenson, and Drew Bryan, Vice President of Mortenson Properties, Inc., attended Indian Prime Minister Modi’s welcome celebration at the White House with partners from VSK Energy.
"Mortenson is thrilled and honored to spearhead the design and construction of this ambitious and transformative project for VSK Energy," said Brad Heitland, Director of Business Development for Mortenson. "This project represents a remarkable feat of engineering, construction, and a collaborative effort from several organizations across the private and public sectors around the world. It symbolizes a collective dedication to a clean energy future, and as a leader in renewable energy infrastructure engineering, procurement, and construction, Mortenson is ready to leverage our extensive expertise to further grow and strengthen America's position in solar manufacturing."