Waaree signs MoU with Gujarat to set up Rs 11 billion solar modules and cells plant

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Mumbai-based solar module manufacturer Waaree Group has signed an MoU with Gujarat government to set up a Rs 11 billion solar modules and cells manufacturing plant in the state.

Coming up at Moda village in Valsad district, the plant is the latest addition to the manufacturer’s two solar modules manufacturing plants of 2 GW capacity in Surat and Umargam of the state. The plant is expected to provide jobs to 2000 local youths.

The MoU for the plant was signed between Gujarat government officials and Waaree Solar Energy Solutions chairman Hitesh Doshi in the presence of Chief Minister Vijay Rupani.

Speaking on the occasion, Chief Minister Rupani said that huge investments are coming in the solar and other non-conventional sources of energy due to the government’s incentives and growing demand for solar modules and solar cells in the state.

As per the Solar Rooftop Policy, he said that 800,000 houses and 33,00,000 MSME units are scheduled to be encompassed for 100% solar energy utilisation in the state.

Waaree Group Chairman Hitesh Doshi thanked the Chief Minister for fast land allotment procedures. Impressed by the state government’s encouraging and transparent attitude, he said he planned to invest more in Gujarat.

The MoU for latest addition by the company follows last year’s announcement about expansion of annual module manufacturing capacity to 2 GW from 1.5 GW, with a production capacity of 5.7 MW per day.