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Home Economy Indian developer enters solar panel business with 2 GW factory
Indian developer enters solar panel business with 2 GW factory

Indian developer enters solar panel business with 2 GW factory

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ReNew Power plans to switch on 2 GW of solar cell and module production capacity by September 2023.

ReNew Power has revealed plans to complete a $246.3 million, 2 GW solar cell and module factory in Gujarat by September 2023. It said construction of phase one of the project is now “in full swing,” with plans to make the plant operational by the third quarter of 2023.

“This solar cell and module manufacturing facility will have an annual capacity of 2 GW,” ReNew Power told pv magazine“The capacity of the module plant is 2.4 GW. The cell line initially will have 2 GW capacity, expandable to 4 GW in the future.”

The company – which develops, builds, owns, and operates utility-scale wind energy, solar energy, and hydro projects – said the new plant will create about 1,250 jobs in the state. As of October, it had a 13.4 GW renewables portfolio in India, including commissioned and committed projects.

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