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Business EconomyPosted at: Dec 1 2021 8:04PM


SSEL to set up 4GW manufacturing unit for Polysilicon with Rs 28,000 cr investment

Hyderabad, Dec 1 (UNI) Shirdi Sai Electricals Limited (SSEL) who emerged as one of the successful bidders in IREDA’s bid invite for manufacturing “High Efficiency Solar PV Modules” as a part of the Aatmanirbhar Bharat Abhiyan was issued a Letter of Award in last month.
SSEL signed an MoU with Viridis.iQ GmbH, a German engineering and consulting services firm to assist SSEL in setting up of the 4 GW manufacturing unit for Polysilicon + Ingot-Wafer + Cell + Module in the presence of Mr. P. Harish, the Indian Ambassador for India in Germany, Hyderabad-based company said in a release here on Wednesday.
The project which may come either in Andhra Pradesh, Telangana, Karnataka and Chhattisgarh, is planned in 4-phases in 5-years. The total cost of the project was Rs 28,000 crores.
In the Early Stage both SSEL and Viridis.iQ GmbH will finalize the conceptual design, devise the business plan to kickstart the project after which Viridis.iQ GmbH will extend the necessary technical/engineering support followed by construction and Operations to start.
Post the start of Operations, the project shall be supported by Viridis.iQ GmbH for up to one year to stabilize the Operations.
Commenting on this development, SSEL CEO, Mr. Sharat Chandra, who is presently in Germany, said this association with Viridis.iQ GmbH would strengthen SSEL in setting up one of India’s largest production facilities in the PV value chain.
This would help SSEL to produce world class solar cells and modules contributing for the domestic and international markets at the same time, meeting the Aatmanirbhar Bharat Abhiyan’s objective.
Virids.iQ GmbH Executive Director Mr. Wolfgang Herbst, remarked that this opportunity to collaborate with SSEL helps them to enter into the ever-growing Indian market, and would strengthen the business relations between both the countries.
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Tags: #SSEL to set up 4GW manufacturing unit for Polysilicon with Rs 28#000 cr investment
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