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Madhya Pradesh CM discusses solar investment with Grew Energy

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Grew Energy plans to invest up to Rs 100 billion in Madhya Pradesh, including a 3.0 gigawatt solar cell project in Narmadapuram district, according to The Economic Times. The announcement followed a meeting between Chief Minister Mohan Yadav and Grew Energy CEO Vinay Thadani during the Chief Minister’s official visit to Dubai. The solar cell plant is expected to commence commercial operations in March 2026, creating over 700 jobs. The Madhya Pradesh government will provide…

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SAEL and Shakti Pumps announce new solar manufacturing investments

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SAEL Industries Limited and Shakti Pumps (India) Limited have separately announced new investments aimed at expanding domestic solar manufacturing capacity, with a focus on meeting future demand and aligning with domestic content requirement (DCR) norms. SAEL Industries, through its subsidiary SAEL Solar P6 Private Limited, plans to set up an integrated solar manufacturing facility in Greater Noida, Uttar Pradesh. The project will be located in the Yamuna Expressway Industrial Development Authority region and is expected…

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India’s solar capacity jumps 4000% in a decade: Goyal

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India’s installed solar capacity has grown 4000% over the last decade, Union Minister of Commerce and Industry Piyush Goyal said at the 11th India Energy Storage Week (IESW) 2025 held in New Delhi. Mr. Goyal said India’s total renewable energy capacity has reached 227 GW. He also claimed that India is likely the first G20 country to have met its Nationally Determined Contributions under the Paris Agreement. The Minister highlighted Jammu and Kashmir’s Palli village…

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Shakti Pumps raises Rs 2.93 billion through QIP

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Shakti Pumps has completed its qualified institutions placement (QIP) issue, raising Rs 2.926 billion from institutional investors. The shares were issued at Rs 918.00 each, reflecting a 4.97 per cent discount to the Securities and Exchange Board of India’s floor price of Rs 965.96. The funds will be used to set up a greenfield manufacturing plant for high-efficiency solar DCR (domestic content requirement) cells and solar photovoltaic (PV) modules. The facility will be located in…

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H&H Aluminium opens 24,000 TPA solar frame plant in Rajkot

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H&H Aluminium has inaugurated its new solar frame manufacturing plant in Rajkot, Gujarat. The facility has a manufacturing capacity of 24,000 metric tonnes per annum and can support up to 6 GW of solar installations annually. The company has invested approximately Rs 1.5 billion in the new plant. Trial production began in June 2025. Commercial operations are expected to commence within a month. Once fully operational, the plant is projected to support annual sales of…

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CCI clears BII’s investment in ReNew’s solar manufacturing arm

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The Competition Commission of India (CCI) has approved British International Investment’s (BII) proposed investment in ReNew Photovoltaics Private Limited. BII will invest through a securities subscription arrangement in ReNew’s solar manufacturing arm, which focuses on producing solar modules and cells in India. BII has made several climate-focused investments in the country over the past two years. In May 2025, BII invested $100 million in ReNew Energy Global Plc to support India’s solar manufacturing ecosystem. The…

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MNRE expands solar ALMM list to 91,458 MW

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The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 742 MW of solar module manufacturing capacity. With this update, the cumulative capacity under the ALMM has reached 91,458 MW. Two new companies, Nithin Sai Renewables (473 MW) and Worldone Energies (164 MW), have joined the list, contributing a combined 637 MW. Several existing manufacturers have also revised their capacities. Swelect HHV Solar Photovoltaics added…

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Juniper Green and Rayzon Solar file DRHPs with SEBI to raise IPOs

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Juniper Green Energy and Rayzon Solar Limited have filed draft red herring prospectuses (DRHPs) with SEBI to raise a total of Rs 45 billion through initial public offerings (IPOs) of equity shares. Juniper Green Energy aims to raise over Rs 30 billion. The IPO will be a pure fresh issue, with no offer-for-sale component. Of the total proceeds, Rs 10.92 billion will go toward debt repayment and Rs 11.57 billion for repayments related to subsidiaries,…

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Saatvik, Solarium, and Ahaan announce new solar module manufacturing plans

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India’s solar manufacturing capacity is set to expand significantly with new projects announced by Saatvik Solar Industries, Solarium Green Energy, and Ahaan Solar. Saatvik Solar Industries Private Limited, a wholly owned subsidiary of Saatvik Green Energy Limited (SGEL), has begun work on a 4 GW solar photovoltaic (PV) module manufacturing plant in Odisha. This is part of an integrated plan that also includes a 4.8 GW solar cell unit and a separate 4 GW module…

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Rayzon Solar to file Rs 15 billion IPO papers with SEBI

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Rayzon Solar Limited plans to file draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth about Rs 15 billion. The offer will consist of a fresh issue of equity shares. The company has appointed leading investment banks to manage the issue. Proceeds from the IPO will go towards expanding its manufacturing capacity and supporting growth plans. Rayzon Solar recently secured a 280 MWp module supply contract…