HYDERABAD, MARCH 26, 2024: Indosol Solar Private Limited, a subsidiary of Shirdi Sai Electricals Limited (SSEL), proudly announces the commencement of production at its cutting-edge solar module manufacturing facility in Andhra Pradesh. The production line has been built on approximately 30 acres of land that was allocated in January 2024.
Speaking on this significant milestone, Mr. Sharat Chandra, CEO said that “We are starting with the production of 500 MW Solar PV module from 31st March. This is a state-of-the-art fully automated module line, first of its kind in India; capable of making PERC, TOPCON, HJT modules with glass-glass and back sheet combinations”
This initiative aligns with the Government of India’s Production Linked Incentive (PLI) scheme, aimed at bolstering domestic manufacturing capabilities and promoting sustainable development. Indosol Solar was awarded significant incentives under the PLI scheme, affirming its pivotal role in advancing India’s renewable energy agenda.
Established as a Special Purpose Vehicle (SPV) by SSEL, India’s largest transformer manufacturer, Indosol Solar, signifies a significant step towards enhancing India’s renewable energy infrastructure. Leveraging the robust foundation laid by its parent company, SSEL, which completes 30 years of excellence next month, Indosol Solar emerges as a first project to commence operations towards realising India’s goals for the solar energy sector.
Mr. Chandra elaborated on the strength of SSEL, stating, “Today, SSEL is India’s largest manufacturer of distribution and power transformers with a combined installed capacity of around 30 Gigawatt. Our state-of-the-art manufacturing facility in Kadapa produces over 500 distribution transformer units per day, reflecting our commitment to innovation and excellence.”
Building on SSEL’s remarkable growth trajectory, Indosol embraces diversification into solar energy with strategic acquisitions and investments. The company’s foray into solar module manufacturing is a testament to its vision of contributing towards India’s Renewable Energy Future.
Underlining the importance of the Production Linked Incentive (PLI) scheme, Mr. Chandra emphasized, “Winning the prestigious bid under the PLI scheme underscores our commitment to reducing India’s dependence on imported technology. The PLI scheme has provided a vital platform for us to accelerate our solar manufacturing capabilities and align with the national agenda of ‘Make-in-India’ and ‘Atmanirbhar Bharat’.”
Furthermore, Mr. Chandra highlighted the economic impact of the project, stating, “Once the full scale of operations of our integrated project is achieved, Indosol Solar will have a positive economic impact for up to 100,000 people whilst creating direct and indirect employment for over 23,000 people in the state of Andhra Pradesh”
