Grew Energy has signed a Memorandum of Understanding worth INR 3,800 crore ($457.37 million) with the Government of Gujarat under the tenth edition of the Vibrant Gujarat Global Summit. Under the MoU, the company will set up a 2.8 GW solar cell and wafer manufacturing unit at Dholera, Gujarat. The Gujarat government will help in facilitating the necessary clearances and expedite the establishment process of the unit.
The project is estimated to generate employment for over 1,600 people.
The INR 3,800 crore investment is the biggest so far in the history of Grew and the company will raise the funds through a mix of internal accruals and external funding.
Vinay Thadani, director and CEO of Grew Energy, said, “We now have a head-start to establish our 2.8 GW solar cell and wafer manufacturing unit in Gujarat. We plan to commence the establishment process of our Dholera unit in 2025 and envision this to be a cornerstone for the company’s growth and future expansion plans.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.