The 'largest' denim manufacturer in Asia, Indian textiles firm Chiripal Group of Companies is venturing into solar PV manufacturing with the launch of Grew Energy Pvt Ltd that targets to establish 3 GW cells, 4 GW modules and 300 ton/day tempered glass production capacity.
According to Grew Energy's Director Vinay Thadani, the company aims to realize these manufacturing plans within the next 4 years. "Initially, the manufacturing will be equipped with its first 2 GW of fully automated unit in the state of Rajasthan, while the other manufacturing facilities will branch across India in a phased manner," shared Thadani.
Production work is scheduled to commence in June 2023 and cover manufacturing of components for the entire solar energy ecosystem in the next 3 years to 4 years, reads a company statement.
Grew said it aims to narrow down the gap between demand and supply of solar energy by providing indigenous solar components for PV modules at a competitive cost. Currently, the gap exists since India depends heavily on imported PV cells and modules.
It added, "In effect, domestic companies to have to compete on production of modules but also ramp up effort to manufacture other important parts to make India net-exporter of solar equipment."
The startup is also present in the solar EPC space and counts its capacity as 50 MW. Grew has been set up as the holding brand of Chiripal Renewable Energy Private Limited (CREPL). Their parent company Gujarat based Chiripal Group is also diversified into petrochemicals, infrastructure and biaxially oriented poly propylene (BOPP) films.
Companies like Chiripal Group are capitalizing Indian government's positive approach to solar PV manufacturing and decarbonization targets that are expected to boost the demand for solar in the near future.