Grew Energy to Set Up Solar Component Unit in Gujarat's Dholera for Rs 3,800 Cr

Grew Energy, in the presence of Gujarat Chief Minister Bhupendra Patel at the Vibrant Gujarat Global Summit 2024, signed a Memorandum of Understanding (MoU) worth Rs 3,800 crore to set up a solar component manufacturing unit in Dholera. The unit is planned to have a production capacity of 2.8 GW by 2025, with the Gujarat government facilitating clearances and expediting the project.

The investment is expected to generate employment for over 1,600 people in and around Dholera. This Rs 3,800 crore project represents the largest investment in Grew Energy’s history, funded through a combination of internal accruals and external financing.

Vinay Thadani, Director and CEO of Grew Energy Pvt Ltd, said"" Vibrant Gujarat Global Summit " 2024 is a historic moment for Grew. We thank the Gujarat government for their trust and support in ensuring smooth execution of the manufacturing unit. We aim to commence establishment in 2025, making this unit a cornerstone for the company’s growth and expansion in the renewable energy sector."

Founded in 2022, Grew Energy is the renewable energy vertical of the Chiripal Group. The company has already established a 1.2 GW module manufacturing facility at Dudu, near Jaipur, Rajasthan, expanded with another 1.6 GW at the same site, and announced a 3.2 GW unit at Dholera, which will take its total manufacturing capacity to 6 GW by March 2025.