Latest News | Shirdi Sai Electricals Makes Rs 15k-cr Initial Investment to Set Up Solar Cell to Module Unit

New Delhi, Apr 3 (PTI) Shirdi Sai Electricals Limited will make an initial investment of Rs 15,000 crore to build an integrated solar cell to module manufacturing facility at Ramayapatnam in Andhra Pradesh, its CEO Sharat Chandra said on Wednesday.

The investments in the first phase are being made through subsidiary Indosol Solar to set up 5 gigawatts (GW) of moduleS, 5 GW wafers, 5 GW ingot and 5 GW glass capacities, he told PTI over the phone.

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"We have started the production of the module from Sunday (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. The entire phase-1 (comprising 500 MW each of module, cell, wafer, and ingot) will be completed by 2025. Additionally, a manufacturing capacity of 5 GW of Glass, a raw material product, will also be set up," he said

The entire project is of 30 GW upstream capacity. It is part of the government's PLI scheme for the solar industry, Chandra said without sharing the entire project cost.

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Once completed, it will be the world's first fully integrated quartz-to-module manufacturing plant with 20 GW downstream and 30 GW of upstream facilities, he said, adding the project is expected to be completed by 2028.

It also aims to create 32,000 direct and indirect direct employment opportunities, Chandra said.

The company will manufacture TOPCon (tunnel oxide passivated contact) and HJT (heterojunction technology) modules at the facility.

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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)