Indosol Solar commences the world's first fully integrated Quartz to module project at Ramayapatnam

·       Invests Rs 1,300 crore for 500 MW capacity in the initial phase; plans 30 GW upstream and 20 GW downstream capacity; 32,000 to get employment opportunity

 April 03, 2024: Indosol Solar Private Limited, a subsidiary of Shirdi Sai Electricals Limited (SSEL), today commenced production from its cutting-edge solar PV module manufacturing facility in Ramayapatnam, Nellore, Andhra Pradesh. Shri Manugunta Mahidhar Reddy formally switched on the Stringer unit to commission the 500MW modules line at the project, thus heralding India’s ambitious plan to boost domestic manufacturing under the PLI schemes. 

 The facility's commissioning on March 31, 2024, underscores Indosol’s commitment to delivering superior-quality solar products and its unflinching commitment to reduce India's dependence on imports.  

 At the commissioning stage, the facility is equipped to manufacture 500 MW of fully automated, solar PV modules with different glass-glass and glass-back sheet combinations, including TOPCon (tunnel oxide passivated contact), and HJT (heterojunction technology) modules. Rs 1,300 crore will be invested in developing the initial phase, built on 30 acres of land allocated so far. 

 Once completed, this will be the world's first fully integrated quartz-to-module manufacturing plant and have a final capacity of 30 GW upstream and 20 GW downstream facilities.  The complete project is envisaged to be developed in phases over the next five years.

 The integrated project would require 8,348 acres of land including ancillary industries, Township, Common Infrastructure such as roads and power, a desalination facility of 100 MLD plant, storage, etc., compulsory 33% green area and excludes land required for captive power generation.

 This project will become a grand scheme for advanced manufacturing, economic development and employment generation in Andhra Pradesh. The land required for this project is being purchased and offered at full market value including service charges by APIIC/APMB as per the 'Land Acquisition for Others (LA)' norms.

 With the inauguration of its state-of-the-art solar module production unit, Indosol Solar sets a new benchmark for innovation and sustainability in the solar energy sector. As Indosol Solar embarks on its journey towards scaling renewable energy production, it remains steadfast in its mission to create positive economic impacts and generate employment opportunities, thereby contributing to the socio-economic development of Andhra Pradesh and the nation at large. 

Following land allocation in January this year, the newly commissioned plant was built at a record time, indicating the company's keenness to contribute to making India "atmanirbhar" in solar PV module manufacturing. 

Phase wise development: By December 2024, phase 1A of the project will be completed, which will have manufacturing capacities for 500MW modules, 500MW Cells, and 500MW Ingot-wafer, providing direct employment to 800 people.

 The fully complete Phase 1 of the project, comprising around 5GW, will be completed by 2025 at an investment of Rs 15,000 crore. Additional production of 5GW of glass panels, one of the raw materials for the modules, will be produced internally.  

The full capacity is targeted by 2028.

 "Once the full scale of operations of our integrated project is achieved, Indosol Solar will have a positive economic impact on up to 100,000 people while creating direct and indirect employment for over 32,000 people in the state of Andhra Pradesh," said Mr Sharat Chandra, CEO of Shirdi Sai Electricals Limited.  

 Indosol Solar is one of the select companies in the country awarded projects under the Production Linked Incentive (PLI) scheme by Government of India (GoI). The commencement of operations marks a significant milestone in India's efforts to boost domestic solar manufacturing capabilities under the government's PLI scheme. Indosol Solar has secured PLI for 10 GW under two tranches, worth Rs 5,170 crore from Government of India under the Production Linked Incentive Scheme for High Efficiency Solar PV Modules.

 Winning the prestigious yet fiercely competitive bids awarded by Government of India through IREDA and SECI under the PLI scheme underscores SSEL's financial, technical and manufacturing competency. The scheme, which aims to build an ecosystem for manufacturing high-efficiency solar modules and thus reduce import dependence in the area of renewable energy, has provided SSEL with a vital platform to align with the national agenda of 'Make-in-India' and 'Atmanirbhar Bharat'.

 Over the years, SSEL has expanded its footprint beyond national borders, supplying transformers to over 40 countries across five continents. With a robust growth trajectory, SSEL has achieved a remarkable Compound Annual Growth Rate (CAGR) of 22% over the past 12 years.