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Solar cell developer Art-PV receives $10-M grant from MNRE

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IIT Bombay-incubated Art-PV India Pvt Ltd has received a USD 10 million grant from the Ministry of New and Renewable Energy (MNRE). The company will use the funds to set up a plant for manufacturing high-efficiency tandem solar cells.Art-PV was incubated at the Society for Innovation and Entrepreneurship (SINE), dedicated to fostering startups.Art-PV has developed a tandem cell capable of converting 29.8 % of sunlight into electricity, compared to approximately 23% for conventional solar PV cells. Technically known as a ‘2-Terminal Monolithic Silicon/CdTe-Perovskite’ cell, it absorbs a broader range of light wavelengths, thereby improving energy conversion efficiency.