Indosol Solar to finish Rs 15k cr project by 2025

NEW DELHI: Indosol Solar aims to complete phase-1 of its multi-crore integrated solar module project in Andhra Pradesh by 2025, said Sharat Chandra, CEO of parent SSEL Group, on Thursday.

Under the phase-1, Indosol Solar is investing Rs 15,000 crore to set up 5 gigawatts (GW) of modules, 5 GW wafers, 5 GW ingot, and 5 GW of glass capacities at the upcoming plant at Nellore, near Ramayapatnam port in Andhra Pradesh, he said.

On the timeline of phase-1, Chandra said it will be completed by 2025. The project is part of the government of India’s PLI Scheme for the solar sector.

‘We have already started the production of the module from March 31. We call it Phase 1A, which is part of Phase 1. Initially, we started 500 MW module manufacturing by investing Rs 1,300 crore,’ he said.

The entire project is of 30 GW upstream capacity along with a 20 GW downstream capacity. It is part of the government’s PLI scheme for the solar industry, Chandra said without sharing the entire project cost. Once completed, it will be the world’s first fully integrated quartz-to-module manufacturing plant which will produce TOPCon (Tunnel Oxide Passivated Contact) and HJT (Heterojunction Technology) modules.

The entire project is expected to be completed by 2028, he added.