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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, situated on approximately 30 acres of land allocated in January 2024, marks a significant step towards advancing India’s renewable energy agenda.
Mr. Sharat Chandra, CEO of Indosol Solar, expressed his enthusiasm about this milestone, stating, “We are commencing production of 500 MW Solar PV modules from March 31st. This state-of-the-art fully automated module line, the first of its kind in India, is capable of producing PERC, TOPCON, HJT modules with glass-glass and glass-backsheet combinations.”
Aligned with the Government of India’s Production Linked Incentive (PLI) scheme, Indosol Solar has been awarded substantial incentives, affirming its role in bolstering domestic manufacturing capabilities and promoting sustainable development.
Established as a Special Purpose Vehicle (SPV) by SSEL, Indosol Solar signifies a significant stride towards enhancing India’s renewable energy infrastructure. Leveraging SSEL’s robust foundation, which celebrates 30 years of excellence next month, Indosol Solar emerges as a pivotal player in realizing India’s solar energy goals.
Mr. Chandra highlighted SSEL’s strength, stating, “Today, SSEL is India’s largest manufacturer of distribution and power transformers with a combined installed capacity of around 30 Gigawatts. Our manufacturing facility in Kadapa produces over 500 distribution transformer units per day, reflecting our commitment to innovation and excellence.”
Embracing diversification into solar energy, Indosol Solar’s foray into module manufacturing reflects its vision of contributing to India’s Renewable Energy Future. Mr. Chandra emphasized the importance of the PLI scheme, stating, “Winning the prestigious bid underscores our commitment to reducing India’s dependence on imported technology.”
Furthermore, Mr. Chandra highlighted the economic impact of the project, stating, “Once the full scale of operations is achieved, Indosol Solar will have a positive economic impact for up to 100,000 people, creating direct and indirect employment for over 23,000 people in Andhra Pradesh.”
Indosol Solar’s success in securing significant allocations under the PLI scheme demonstrates the government’s support towards fostering domestic manufacturing and achieving energy self-sufficiency. With the inauguration of its state-of-the-art facility, the company sets a new benchmark for innovation and sustainability in the solar energy sector, contributing to the socio-economic development of Andhra Pradesh and the nation.
