"Shirdi Sai Electricals Commits Rs 15k Cr Investment for Solar Cell Unit"

Shirdi Sai Electricals Limited is embarking on a significant venture, announcing an initial investment of Rs 15,000 crore to establish an integrated solar cell to module manufacturing facility in Ramayapatnam, Andhra Pradesh. The CEO, Sharat Chandra, revealed this development on Wednesday.

The investments, earmarked for the first phase, are channeled through the subsidiary Indosol Solar. This phase aims to set up capacities of 5 gigawatts (GW) each for modules, wafers, ingots, and glass. Speaking to PTI over the phone, Chandra disclosed that production of modules commenced on Sunday, marking the beginning of Phase 1A within the broader Phase 1 initiative. Initially, the company has invested Rs 1,300 crore to kickstart 500 MW module manufacturing. The entire Phase 1, comprising 500 MW each of module, cell, wafer, and ingot capacities, is slated for completion by 2025. Additionally, a manufacturing capacity of 5 GW of glass, a crucial raw material, will also be established.

Chandra highlighted that the entire project encompasses a 30 GW upstream capacity and is aligned with the government's Production Linked Incentive (PLI) scheme for the solar industry. However, he refrained from disclosing the complete project cost.

Upon completion, the facility will become the world's first fully integrated quartz-to-module manufacturing plant, boasting 20 GW downstream and 30 GW of upstream facilities. Chandra anticipates the project's conclusion by 2028, with a vision to generate 32,000 direct and indirect employment opportunities.

The company intends to manufacture TOPCon (tunnel oxide passivated contact) and HJT (heterojunction technology) modules at the facility.

Established in 1994 as a transformer repairing entity, SSEL Group has evolved into India's largest transformer manufacturing company. Besides, it engages in setting up transmission projects on an Engineering, Procurement, and Construction (EPC) basis, alongside hydro and green energy projects. With an employee base of around 5,000 individuals, the company reported a revenue of Rs 2,680 crore in the fiscal year 2022-23.

BS