Fujiyama Power Systems, a major player in the rooftop solar segment, has acquired 24.89 hectares in Ratlam, Madhya Pradesh, to set up a solar manufacturing facility. The Delhi-based company plans to invest Rs 6.5 billion to produce solar panels, lithium-ion batteries, and allied solar products. The facility, set to begin with a production capacity of…
Premier Energies Limited plans to invest Rs 52.92 billion in manufacturing facilities for solar cells, modules, ingots, silicon wafers, and aluminium extrusions in Telangana. The initiative includes a 4 GW solar photovoltaic (PV) TOPCon cell and 4 GW PV TOPCon module manufacturing plant at Sitarampur, with an investment of Rs 33.42 billion. Telangana State Industrial…
Dynamic Services and Security Limited (DSSL) has secured an order from the Maharashtra government to establish a 1,800 MW solar module manufacturing facility in MIDC Villebhagad, Tal-Mangaon, Raigad district. The project, involving an investment of Rs 10.8 billion, falls under the Maharashtra Package Scheme of Incentives (PSI) 2019, which promotes industrial growth in underdeveloped regions…
The Odisha government has approved proposals from Grew Energy, Saatvik Solar, Jakson Engineers, and Jupiter Renewables to establish solar cell and module manufacturing facilities, totalling an investment of over Rs 92 billion. Grew Energy: Plans to invest Rs 45.3 billion in Ganjam to set up an ingot-to-solar module facility. Saatvik Solar Industries: Intends to invest…
Singapore-based Maxeon Solar Technologies has announced plans to divest its non-US assets, concentrating exclusively on the US market to drive growth and profitability. Maxeon will lease a facility in Albuquerque, New Mexico, for solar panel production, targeting a 2 GW capacity by early 2026. The divestment includes its sales, marketing, and manufacturing operations in Europe,…
TOYO has signed a $150m solar cells supply contract with a leading solar module manufacturer to support production expansion in India and the United States. The company will utilize its manufacturing facilities in Vietnam and Ethiopia to produce advanced solar cells designed to enhance module efficiency and performance. This partnership strengthens TOYO’s market position and…
China’s Ministry of Industry and Information Technology has finalized new investment guidelines for solar photovoltaic (PV) manufacturing projects to address persistent overcapacity and stabilize the industry. The guidelines, announced on November 20, 2024, increase the minimum capital ratio for solar PV projects to 30%, up from 20% for certain projects. This threshold, previously reserved for…
Satvik Green Energy has reportedly filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 11.50 billion through an initial public offering (IPO). The offering includes a fresh issue of shares worth Rs 8.50 billion and an offer for sale of Rs 3 billion by the…
India’s target of installing 500 GW of renewable energy by 2030 could drive its annual solar equipment import bill to USD 30 billion, according to a report by think tank Global Trade Research Initiative (GTRI). The report emphasizes that without significant investments in developing a self-reliant solar manufacturing industry, particularly in polysilicon and wafer production,…