Shirdi Sai Electricals makes an initial investment of Rs 15k-cr to set up a solar cell to module unit – EQ
In Short – Shirdi Sai Electricals initiates a significant investment of Rs 15,000 crores to establish a solar cell to module unit, as reported by ET EnergyWorld. This substantial investment underscores their commitment to renewable energy production and reflects their confidence in the solar energy market.
In Details – Shirdi Sai Electricals Limited will make an initial investment of Rs 15,000 crore to build an integrated solar cell and module manufacturing facility at Ramayapatnam in Andhra Pradesh, CEO Sharat Chandra said on Wednesday. The investments in the first phase will be made through subsidiary Indosol Solar to set up 5 gigawatts (GW) of modules, 5 GW wafers, 5 GW ingots and 5 GW glass capacities, he told PTI over phone.
“We have started production of the module from Sunday (March 31). We are calling it Phase 1A, which is part of Phase 1. Initially, we have started production of 500 MW modules by investing Rs 1,300 crore. The entire phase-1 (consisting of 500 MW (module, cell, wafer and ingot) will be completed by 2025. In addition, a production capacity of 5 GW of glass, a commodity product, will also be set up,” he said.
The entire project has an upstream capacity of 30 GW. 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 with 20 GW downstream and 30 GW upstream facilities, he said, adding that the project is expected to be completed in 2028. It also aims to create 32,000 direct and indirect employment opportunities, Chandra said.
The company will produce TOPCon (tunnel oxide passivated contact) and HJT (heterojunction technology) modules at the plant. Established in 1994 as a transformer repair company, SSEL Group has over the years grown into India’s largest transformer manufacturing company. In addition to hydropower and green energy projects, the company is also involved in setting up transport projects on an EPC basis. It employs around 5,000 people and reported a turnover of Rs 2,680 crore in the financial year 2022-2023.
