ReNew Power to set up solar modules and cell manufacturing facility in Gujarat
ReNew Power, one of India's leading renewable energy company has announced to develop solar modules and cell manufacturing facility in Dholera Special Industrial Region located in Gujarat.
About 100 acres have been allocated for the greenfield project by the State Government of Gujarat, ensuring adequate availability of land for future capacity expansion.
"The Indian Government's Production-Linked Incentive (PLI) scheme for solar photovoltaic (PV) modules has opened up several avenues for domestic manufacturing in the renewable energy sector," said Sumant Sinha, Founder, Chairman, and CEO of ReNew Power.
"ReNew plans to manufacture both solar cells and modules in the Dholera manufacturing facility with the goal of creating a globally competitive manufacturing unit."
The greenfield facility will manufacture 2GW of solar cells and modules annually using advanced monocrystalline Passivated Emitter & Rear Contact (PERC) and large wafer technology and will implement best practices in line with Industry 4.0 manufacturing standards, ReNew Power stated.
The new facility will be vertically integrated in terms of processes and infrastructure for the manufacturing facility.
Additional Chief Secretary to Chief Minister of Gujarat and Chairman of Dholera Industrial City Development Limited, M K Das, welcomed the decision of ReNew Power to set up a manufacturing facility in the State of Gujarat and expressed that the decision strengthens the vision of the State Government of promoting and increasing the share of renewable energy in its energy mix.
"This manufacturing facility announced by ReNew Power will not only help reduce import dependency of the solar sector but will also play an important role in fulfilling the Honourable Prime Minister's vision of an Aatmanirbhar Bharat (self-reliant India)," Das added.
Currently, China accounts for about 80 percent of the world's solar module production and India's growing renewable energy companies are heavily dependent on China for the modules and cells.
The Government of India with the view to strengthen domestic manufacturing announced PLI scheme last year to provide financial incentives to domestic manufacturing units and it is expected to help add 10 GW of integrated solar PV manufacturing capacity in the country. To cut reliance on imports GoI has also increased customs duties on imported components, which are expected to come into force beginning in April 2022.
The latest announcement by ReNew Power intends to bring a crucial function in-house along with boosting India's domestic manufacturing capacity for clean energy.
Renew Power is expected to commence operations of the new manufacturing facility from the fiscal year 2023.
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