India's ReNew Power to end up being PV supplier, intends 2-GW factory

• Indian independent power manufacturer ReNew Power Pvt Ltd today revealed a plan to develop a 2-GW solar cell and module manufacturing facility in the state of Gujarat to provide its own projects as well as also offer components to other sector gamers.

The company will develop the greenfield facility on 100 acres of land in Dholera Special Industrial Region (DSIR), about 100 km outside the city of Ahmedabad. The vertically integrated plant will certainly utilise monocrystalline PERC (Passivated Emitter & Rear Contact) and big wafer modern technology. Workflow are expected to commence in financial 2023, which begins on April 1, 2022.

"The Indian Government's Production-Linked Incentive (PLI) scheme for solar photovoltaic (PV) modules has opened up numerous avenues for domestic manufacturing in the renewable resource field. ReNew plans to produce both solar cells and also modules in the Dholera manufacturing center with the objective of producing an around the world competitive manufacturing device," said Sumant Sinha, owner, chairman and CEO of ReNew Power.

As noted by M K Das, the extra chief assistant to the chief minister of Gujarat and chairman of Dholera Industrial City Development Ltd, the brand-new manufacturing center will help reduce the import dependency of the solar market. The news of ReNew Power's strategy comes just as India initiated an anti-dumping probe right into imports of solar photovoltaic (PV) cells made in China, Vietnam as well as Thailand.

ReNew Power said that local manufacturing will allow the business to stay clear of paying high personalizeds duties on imported components, which are seen to enter into force starting next April.

As formerly introduced, the firm remains in the process of merging with blank check firm RMG Procurement Corporation II (NASDAQ: RMGB) to safeguard a United States listing on Nasdaq in a handle a venture worth of USD 8 billion (EUR 6.59 bn). Completion of that deal is prepared for the second quarter of 2021.