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Business EconomyPosted at: Mar 26 2024 11:37PM


Indosol Solar's first phase Solar Module Production to commence in AP by Mar end this year

Hyderabad, Mar 26 (UNI) Indosol Solar Private Limited (ISPL), an SPV formed by Shirdi Sai Electricals Limited (SSEL), announced on Tuesday that the India's first fully integrated solar PV module first phase 4 GW/ annum of production will commence it's operation at its cutting-edge solar module manufacturing facility at Ramapayapatnam in Nellore district of Andhra Pradesh, by March end this year.
The production line has been built on around 30 acres of land that was allocated in January 2024 by the Andhra Pradesh government.
Of the total investments of Rs 25,000 crore for the overall 10 GW capacity project involves manufacturing at two levels -- including metallurgical silicon & Polysilicon plant, in the first phase “We are starting with the production of 500 MW Solar PV module from March end024 with an investment of Rs 15,000 crore, said the company CEO Sharat Chandra, in a press conference here.
He said " This is a state-of-the-art fully automated module line, first of its kind in India; capable of making PERC, TOPCON, HJT modules with glass-glass and back sheet combinations."
This initiative aligns with the Government of India's Production Linked Incentive (PLI) scheme, aimed at bolstering domestic manufacturing capabilities and promoting sustainable development, he said Indosol Solar was awarded significant incentives under the PLI scheme, affirming its pivotal role in advancing India's renewable energy agenda.
In the first phase, the company would create direct and indirect employment to over 4500 people and once completed the entire 10GW project by next two years , would create employment to over 23,000 people in Andhra Pradesh, he informed.
Established as a Special Purpose Vehicle (SPV) by SSEL, India’s largest transformer manufacturer, Indosol Solar. signifies a significant step towards enhancing India's renewable energy infrastructure.
Leveraging the robust foundation laid by its parent company, SSEL, which completes 30 years of excellence next month, Indosol Solar. emerges as a first project to commence operations towards realising India’s goals for the solar energy sector.
Chandra elaborated on the strength of SSEL, stating, "Today, SSEL is India’s largest manufacturer of distribution and power transformers with a combined installed capacity of around 30 Gigawatt. Our state-of-the-art manufacturing facility in Kadapa produces over 500 distribution transformer units per day, reflecting our commitment to innovation and excellence."
Underlining the importance of the Production Linked Incentive (PLI) scheme, Chandra emphasized, "Winning the prestigious bid under the PLI scheme underscores our commitment to reducing India’s dependence on imported technology. The PLI scheme has provided a vital platform for us to accelerate our solar manufacturing capabilities and align with the national agenda of 'Make-in-India' and 'Atmanirbhar Bharat'."
With the inauguration of its state-of-the-art solar module production unit, Indosol Solar. sets a new benchmark for innovation and sustainability in the solar energy sector. The facility, equipped with advanced technology and automation, underscores the company's commitment to delivering superior quality solar productshe added.
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