29 Apr 2023
Grew Energy Pvt Ltd, one of the 11 renewable energy companies in India and the only one from Gujarat, became a successful bidder under the W+C+M category of PLI Scheme, Tranche II. Under Basket II, Grewhas been awarded the allocation of Rs. 566.71 Crores and a manufacturing capacity of 2000 MW.Tranche-II of Production Linked Incentive Scheme has a total outlay of Rs. 13,937.575 Crores for High Efficiency Solar PV Modules and a total of domestic Solar PV module manufacturing capacity of 39,600 MW.
Currently, India is dependent on imports for almost 90% solar components for PV modules. There is clearly a sizeable gap in the demand and supply of solar modules and componentsto successfully achieve the 2030 and 2070 targets of the Government. Indian PV module & solar components manufacturers will play a crucial role in bridging this gap.
GREW aims to narrow down this gap by providing indigenous solar components for PV modules and much more at competitive value. GREW hopes in aiding ‘further and faster’ transition to renewable energy in India by accelerating consistent growth determined by sustainability, reliability, and responsibility.
Speaking on the vision of the company, Mr. Vinay Thadani, Director, Grew Energy Pvt Ltd said, “We have exciting plans not just for the company, but also for entire industry as well. With PLI allocation, you will see substantial growth in solar sector space and in Grew’s growth as well. The next three years are crucial for India’s renewable manufacturing sector. Proper implementation of plans and with proper efforts of manufacturing companies, India has the potential to be well-placed on the world map for manufacturing of solar PV modules and other components.”
Over the period of the next four years, the company’s will catalyse a manufacturing capacity of 4 GW PV Modules, 3 GW PV cells, and an impressive 300 tonnes/day of Tempered Glass. Initially, its manufacturing will be equipped with its first 2 GW of fully automated unit in the state of Rajasthan, while the other manufacturing facilities will branch across India in a phased manner.
Mr. Thadani adds,“As we commission our manufacturing units, we will bring about a change in national statistics of production of solar PV modules and other components. We will commence production in September 2023 and within the next 3-4 years, we will cover manufacturing of components required for the entire solar energy ecosystem.”
The company has also ventured into solar infrastructure installation and has 50 MW of projects under its belt.
As per latest available data, imports of solar modules in India have decreased by 64% in Q3 2022 compared to the Q2 2022. However, cell imports have increased by the same amount. In effect, domestic companies to have to compete on production of modules but also ramp up effort to manufacture other important parts to make India net-exporter of solar equipment.
Grew Energy Pvt Ltd is one of the participants in upcoming RenewX 2023 at Hyderabad from April28 & 29, 2023.
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