Chiripal Group Bets Big On Solar Manufacturing For Long Term Sustainability

By Saur News Bureau/ Updated On Wed, Dec 7th, 2022

Gujarat based diversified industrial group Chiripal Group, which has existing interests in textiles, petrochemicals, education, polyfilms and financing, Chiripal Renewables recently founded Grew Energy Pvt Ltd, a company that will produce solar components. With this entry into the renewable energy industry the group has acknowledged the scale of the opportunity in renewable energy, particularly solar energy, and its own focus on being a part of move towards more sustainability.

Like most other recent entrants, as well as existing players who have been on an expansion spree, the group will hope to serve the huge disparity between supply and demand for quality solar components.

Vinay Thadani, Director of Grew Energy Pvt Ltd, described the company’s mission as follows, “At GREW we think that sustainable solutions are essential for future development. The professional staff at GREW, with between 15 and 26 years of experience in sustainable solutions, the spirit of technovation, and a top-notch facility that combines complex engineering and practical design are what propel GREW to new heights. The facility will enable the production of 4 GW PV Modules, 3 GW PV cells, and a staggering 300 tonnes of Tempered Glass each day over the following four years. While the other production facilities will be spread out across India gradually, the first 2 GW of fully automated manufacturing will be installed in the state of Rajasthan.”

Chiripal Group Proposes Solar Manufacturing Investment in MP

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The company will begin production operations in June 2023 and complete component manufacture for the entire solar energy ecosystem in the following three to four years. The business has also dabbled in installing solar infrastructure, and it has completed 50 MW worth of projects.

According to the most recent data, India’s imports of solar modules fell by 64% in Q3 2022 compared to Q2 2022. However, imports of cells have risen by the same amount. To make India a net exporter of solar equipment, Indian enterprises will have to compete for business not only in the production of modules but also in the production of other crucial components.

Earlier, Chiripal Group proposed an investment of Rs 4600 crores in Madhya Pradesh, under MP’s industrial promotion policy. Our understanding is that all the plans involve Gigawatt plus scale of manufacturing.