Adding one more feather to its cap, Chiripal Group has recently launched Grew Energy Pvt Ltd, a solar component manufacturing company, under Chiripal Renewables. With this, the conglomerate has stepped into the renewable energy space thereby committing itself to the cause of a sustainable future. This new venture is steadfast in providing world-class solar energy solutions for domestic as well as international markets.
The government of India has set a target of net zero target by 2070. At present, the country is dependent on fossil fuel for most of its energy needs. Recognizing this, the government has encouraged adopting solar energy through various schemes and subsidies. However, there is a considerable gap in the demand and supply of this, partly fuelled by the fact that about 90% of solar components for PV modules are imported from various countries. GREW aims to narrow down this gap by providing indigenous solar components for PV modules and much more at a 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, “At GREW we believe that sustainable solutions are necessary for future development. What catapults GREW to soar high is the expert team with 15 to 26 years of experience in sustainable solutions, the spirit of technovation, and a world-class infrastructural facility that brings together intricate engineering and functional design. Over the period of the next four years, the facility will catalyse a manufacturing capacity of 4 GW PV Modules, 3 GW PV cells, and an impressive 300 tonnes/day of Tempered Glass. Initially, the 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.”
The company will commence production work in June 2023 and will cover manufacturing of components required for the entire solar energy ecosystem in next 3-4 years. 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.