PVV Infra announces plans for a INR 6.5 billion facility on 30 acres in Visakhapatnam
The project is expected to generate 350 direct and 450 indirect jobs by 2026
The move aligns with the company’s strategy to expand in clean energy through subsidiary SPVs
PVV Infra Limited, an infrastructure construction company that also includes renewable energy construction, has unveiled plans to develop a 1 GW n-type TOPCon solar cell manufacturing facility in India’s Andhra Pradesh.
The company recently entered into a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) for the project. To be built for an estimated INR 6.5 billion, the factory will be located in Visakhapatnam on 30 acres.
With this project, PVV Infra expects to create 350 direct jobs by 2026, including both payroll and contract employees. It will also create another 450 secondary and tertiary jobs across the supply chain, logistics, services, and ancillary units.
Listed on the Bombay Stock Exchange (BSE), the company stated, “PVV Infra Limited will commit to input its respective strengths and advantages in terms of investment, technology, planning, design and equipment into setting up 1 GW N Type TOPCon Solar Cells Manufacturing facility in the State of Andhra Pradesh.”
Traditionally in the business of construction of multi-storied commercial and residential buildings, roadways, bridges, and airfields, among other large-scale projects, PVV Infra recently decided to expand its presence in the renewable energy sector through special purpose vehicles (SPVs), executed through subsidiary companies.
One of its subsidiaries, PVV EVTech Private Limited, is negotiating a power purchase agreement (PPA) with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for a 100 MW solar power project, along with a 109 MW solar power project also in the state.
“These initiatives are in line with the Company's long-term strategy to scale its presence in the clean energy sector, leveraging both development and EPC capabilities,” according to this Telangana-based company.
Andhra Pradesh is emerging as an upcoming industrial destination for solar PV manufacturing. ReNew Energy also recently entered into an MoU with APEDB for a 6 GW ingot-wafer plant in the state, along with 5 GW of hybrid renewable energy projects, a 300 KTPA green ammonia facility, and a 2 GW pumped hydro project (see ReNew To Expand Vertical Integration With 6 GW Upstream Plant).
The State Government of Andhra Pradesh recently also announced a Renewable Energy Manufacturing Zone in Bapatla district on 1,000 acres to be developed under its Integrated Clean Energy Policy 2024 (see India Solar PV News Snippets).