Amp Energy India has announced a joint venture (JV) with Websol Energy to manufacture and produce solar cells and modules. The two companies have signed a term sheet for the formation of a joint venture to produce monocrystalline PERC solar cells in two phases of 600 MW each at Websol's existing facility in Falta, West Bengal. Websol will hold 51% and Amp Energy will hold 49%. The project will be financed through a combination of debt and equity and will have an off-take agreement with Amp Energy India for up to 50% of production.