Earthwave Group Signs MoU With Guj Govt to Boost Renewable Energy Growth

The Earthwave Group has signed a Memorandum of Understanding (MoU) with the Gujarat government to accelerate growth in the renewable energy sector. The company plans to work with the Gujarat-based discom to enhance the penetration of clean power in the coastal state.

As per the pact, the Group is set to invest around ₹1,700 crore in multiple clean energy businesses in Gujarat. The company is diversifying its operations in the green sector, with its solar inverter manufacturing business under the brand name Wave Solar, its EPC business under Earthwave, and a new venture into solar module manufacturing.

Keyur Gajera, Managing Director (MD) of the Group, told Saur Energy that as per the mandate of the MoU, the group of companies will invest around ₹17,000 crore annually in the clean energy sector in Gujarat. He added that the initiative is expected to create jobs for around 750 people.

Venturing into Solar Module Business

The company announced plans to set up a 1.5 GW solar module manufacturing plant in Surat. The firm has planned to take up this solar manufacturing business under the name of Veda Solar. It aims to produce TOPCon-based solar modules to tap into India’s growing demand for high-efficiency solar modules.

With its increasingly diversified solar portfolio, the Group plans to supply integrated products to strengthen its position in the Indian solar market. The company was also recognized among the top 20 EPC firms in the state during the Vibrant Gujarat Summit.