Shirdi Sai Electricals to Set Up Rs 15,000 Crore Solar Manufacturing Hub in Andhra Pradesh

New Delhi, Apr 3 - In a significant move towards bolstering India's solar energy capabilities, Shirdi Sai Electricals Limited (SSEL) has announced an ambitious plan to invest Rs 15,000 crore in establishing an integrated solar cell to module manufacturing facility at Ramayapatnam, Andhra Pradesh. CEO Sharat Chandra revealed the details of this venture, highlighting its scale and potential impact on the solar industry.

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The investment will be channelled through its subsidiary, Indosol Solar, aiming to set up comprehensive manufacturing capacities across various segments. This includes 5 gigawatts (GW) each of modules, wafers, ingots, and glass. The initiative kicked off with the commencement of module production on March 31, marking the beginning of what is termed as Phase 1A.

With an initial investment of Rs 1,300 crore, the company has started with a 500 MW module manufacturing capacity. The complete first phase is expected to culminate by 2025, encompassing 500 MW capacities each for modules, cells, wafers, and ingots. Additionally, a 5 GW glass manufacturing capacity is also on the cards to support the raw material needs for the project.

Chandra shared that the entire project aims for a 30 GW upstream capacity and is aligned with the government's Production Linked Incentive (PLI) scheme for the solar industry. Upon completion in 2028, it is poised to become the world's first fully integrated quartz-to-module manufacturing plant boasting 20 GW downstream and 30 GW upstream facilities.

Beyond enhancing India's solar manufacturing prowess, this project is expected to generate approximately 32,000 direct and indirect employment opportunities. The facility will focus on producing advanced TOPCon (tunnel oxide passivated contact) and HJT (heterojunction technology) modules.

Since its inception in 1994 as a transformer repairing company, SSEL Group has evolved into India's leading transformer manufacturing entity. The group's diversification into transmission projects on an EPC basis and ventures into hydro and green energy projects underscore its commitment to sustainable energy solutions. With a workforce of around 5,000 employees, SSEL reported a revenue of Rs 2,680 crore in the fiscal year 2022-23.

This strategic investment by Shirdi Sai Electricals Limited not only underscores the company's commitment to sustainable energy but also aligns with national objectives to enhance solar manufacturing capabilities. As India strides towards achieving its renewable energy goals, initiatives like these play a crucial role in shaping a greener future.