Leading PV manufacturer RenewSys India is planning to set up multiple solar modules and solar cell manufacturing units in Telangana. The company has signed a Memorandum of Understanding (MoU) with the Industries Department of Telangana and will invest a sum of ₹6000 crore in the state.
RenewSys currently has three manufacturing plants in India located in Hyderabad, Bengaluru, and Patalganga. Moreover, this new investment is expected to generate direct employment for 11,000 people in the next 5 years.
The company has also explained that the investment will be made in a phased manner. RenewSys will set up two new solar module manufacturing lines of 1 GW each during FY2024. Further, in FY2025, the company will set up a 1 GW solar PV cell production unit at an investment of ₹1,250 crore.
Later, the company will develop two solar PV module units of 1 GW capacity each at an investment of ₹550 crore by FY2027 and two solar PV cell units with 1 GW capacity by FY 2026-27. Moreover, RenewSys will set up an aluminium plant with an investment of ₹1,700-2,000 crore by FY2028.
Renewsys, India’s first integrated solar cell, and PV manufacturer, is part of the Enpee Group of companies. Established in 2011, the company now supplies high-quality solar modules to over 40 countries across the world.
The company also recently launched its powerful N-type TOPCon solar modules in India with an efficiency of 23.26%.
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Resource: ET Energy
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