A $1.5 billion solar farm, an electric car and more on India’s energy revolution

A $500 million solar farm is the latest project by a Chinese company to capitalize on the country’s surging energy production, with the first phase set to begin next year.

The $1 billion solar plant will use a new type of photovoltaic technology that is similar to those used in the U.S. and China, according to a report by The Wall Street Journal.

The company said it plans to install around 30,000 panels of photowatt-hours (PWh) capacity over two years.

The plant, expected to generate a total of 3.7 gigawatts of electricity, will also generate about 1,500 jobs, the WSJ reported.

The investment comes as China has ramped up its solar power output by more than 80 percent since 2014, according an Energy Information Administration report.

China is now the world’s largest solar market, generating more than 17 trillion PWh of electricity in 2020.

The U.K.-based company is known for building some of the world, most notably the Eiffel Tower, which was built using solar panels.

The project’s launch comes as the Chinese government aims to slash the countrys energy consumption by more half to 25 percent by 2030, according a New York Times article.

The Chinese government has also said it is exploring alternative technologies, such as geothermal energy, to help the country meet its energy demands.