Grew Energy Inks INR 3800 Crore MoU with Gujarat Government for 2.8 GW Solar Manufacturing Unit

In a groundbreaking development at the tenth edition of the Vibrant Gujarat Global Summit, Grew Energy, a burgeoning player in the renewable energy sector, signed a momentous Memorandum of Understanding (MoU) with the Government of Gujarat. Valued at INR 3800 crore, the agreement was formalized in the esteemed presence of the honorable Chief Minister of Gujarat, Shri Bhupendra Patel.

The primary focus of this landmark MoU is the establishment of a state-of-the-art solar component manufacturing unit in Dholera, boasting a robust capacity of 2.8 gigawatts. The Gujarat Government, through this strategic collaboration, commits to expediting the necessary clearances and streamlining the establishment process for Grew Energy’s ambitious venture.

This significant achievement comes within the second year of Grew’s inception, marking a pivotal milestone for the emerging solar manufacturer and services provider. The upcoming manufacturing unit is poised to become a key employment generator, contributing to the livelihoods of over 1600 individuals in and around Dholera and the broader Gujarat region.

The INR 3800 crore investment represents the largest financial commitment in Grew Energy’s history. The company plans to secure funds through a combination of internal accruals and external funding, underscoring the magnitude of this transformative initiative.

Expressing gratitude, Mr. Vinay Thadani, Director & CEO of Grew Energy Private Ltd, stated, “Vibrant Gujarat Global Summit ’24 is historic for Grew. We would like to thank the government of Gujarat for their faith in us and their commitment to ensuring a smooth establishment of the proposed manufacturing unit. With a projected commencement of operations in 2025, our Dholera unit is envisioned to be a cornerstone for the company’s growth and future expansion plans. This venture will provide a significant impetus to our vision of emerging as one of the leading players in the renewable energy ecosystem in the country.”