Grew Energy to invest Rs 54 billion in solar manufacturing over the next three years

Grew Energy, a Gujarat-based solar energy company, is reportedly planning to invest Rs 54 billion to set up 4 GW of solar module manufacturing capacity with backward integration over the next three to four years.

This will be supported by the backward integration of 3 GW of solar cells and 2 GW of ingot wafers. The backward integration will serve the module facility only. In the further integration, the capacity that will be sold in the market would be 4 GW of solar modules. The company is planning to set up the first 2 GW facility near Jaipur, Rajasthan and rest of the backward integration and all forward facilities at Dholera, Gujarat. Notably, Grew Energy recently got confirmation from Solar Energy Corporation of India Limited for allocation of 2 GW of domestic photovoltic modules capacity under the trache-II of the solar Production Linked Incentive Scheme scheme.