Indosol Solar aims to complete Rs 15,000 crore ingot to module unit by 2025 – EQ
In Short – Indosol Solar’s ambitious target of completing a Rs 15,000 crore ingot-to-module unit by 2025 signals a substantial investment in India’s solar industry. This move holds promise for bolstering the country’s renewable energy infrastructure and fostering sustainable development.
In Details – New Delhi, Indosol Solar aims to complete phase-1 of its multi-crore integrated solar module project in Andhra Pradesh by 2025, said Sharat Chandra, CEO of parent SSEL Group, on Thursday. Under the phase-1, Indosol Solar is investing Rs 15,000 crore to set up 5 gigawatts (GW) of modules, 5 GW wafers, 5 GW ingot, and 5 GW of glass capacities at the upcoming plant at Nellore, near Ramayapatnam port in Andhra Pradesh, he said. On the timeline of phase-1, Chandra said it will be completed by 2025. The project is part of the government of India’s PLI Scheme for the solar sector.
”We have already started the production of the module from March 31. We call it Phase 1A, which is part of Phase 1. Initially, we started 500 MW module manufacturing by investing Rs 1,300 crore,” he said. The entire project is of 30 GW upstream capacity along with a 20 GW downstream capacity. It is part of the government’s PLI scheme for the solar industry, Chandra said without sharing the entire project cost. Once completed, it will be the world’s first fully integrated quartz-to-module manufacturing plant which will produce TOPCon (Tunnel Oxide Passivated Contact) and HJT (Heterojunction Technology) modules.
The entire project is expected to be completed by 2028, and aims to create 32,000 direct and indirect direct employment opportunities, Chandra added. Established in 1994 as a transformer repairing company, SSEL Group has over the years grown to become India’s largest transformer manufacturing company. It is also into setting up of transmission projects on an EPC basis, besides hydro and green energy projects. It employs around 5,000 people and reported a revenue of Rs 2,680 crore in FY 2022-23. PTI ABI DR
