Introduction
In a significant development for India’s renewable energy sector, Grew Energy has announced a major investment in Gujarat. The company has signed a Memorandum of Understanding (MoU) with the Government of Gujarat to set up a solar component manufacturing unit in Dholera. This investment, worth Rs 3,800 crore, marks a substantial step towards enhancing the country’s solar manufacturing capabilities.
Investment Details
The MoU, signed at the Vibrant Gujarat Global Summit, outlines Grew Energy’s plan to establish a 2.8 GW solar cell and wafer manufacturing unit. The Gujarat government has pledged to facilitate the necessary clearances and expedite the establishment process of the unit. This project is not only significant in terms of its financial magnitude but also in its potential to generate employment for over 1,600 people.
Company’s Vision and Expansion Plans
Vinay Thadani, the Director and CEO of Grew Energy, emphasized the historic nature of the Vibrant Gujarat Global Summit ’24 for the company. He expressed gratitude towards the government of Gujarat for their support and promised a smooth establishment of the manufacturing unit. The Dholera unit, planned to commence in 2025, is envisioned to be a cornerstone for the company’s growth and future expansion plans.
Grew Energy’s Background and Operations
Founded in 2022, Grew Energy is the renewable vertical of the Chiripal Group. The company has already made significant strides in the renewable energy sector, starting with a 1.2 GW module manufacturing facility near Jaipur, Rajasthan. They plan to expand this facility by an additional 1.6 GW and have announced another 3.2 GW manufacturing unit in Dholera, Gujarat. By March 2025, Grew Energy’s total manufacturing capacity is expected to reach 6 GW.
Conclusion
This investment by Grew Energy in Gujarat is a testament to the growing focus on renewable energy in India. The Dholera solar component manufacturing unit, with its significant capacity and job creation potential, is poised to make a substantial impact on the renewable energy landscape in India.