Make In India: ReNew Power will Establish a Solar Set Manufacturing Unit at Dholera With Rs 2,000 Crore Investment

19 May, 2021 | avirahi

Dholera Sir is a prospective city in Gujarat where many investors are spending umpteen amounts for various commercial and Residential Projects in Dholera SIR. Like many other reputed companies, India’s largest independent producer of renewable energy, Gurugram-based ReNew Power has selected this Dholera SIR location in Gujarat for its maiden solar cell and module manufacturing unit. This astonishing news was confirmed and published by Economic Times.

With an initial investment of Rs. 1200 crore, the unit will be set up in Gujarat’s Dholera. The total investment in the unit will eventually rise to Rs 2,000 crore as Sumant Sinha led ReNew Energy ramps up the scale and production.

This is certainly an alluring opportunity for the government’s Make in India and Atma Nirbhar Bhaarat policy. Now, the government can push other manufacturing companies to set up their production units at Dholera SIR as the place possesses humongous opportunities.

ReNew Energy is also likely to apply for the government’s Rs 4,500 crore production linked incentive (PLI) scheme for domestic manufacturing of solar equipment. As of March 2020, ReNew had a total operational renewable energy capacity of 5,400 megawatts (MWs). A further 4,500 MWs of capacity is under construction.

ReNew has commissioned a 105 megawatt (MW) solar generation facility in the Patan district of Gujarat. This project takes ReNew’s total operational solar capacity in Gujarat to 145 MW and total aggregate Solar capacity to 4.7 GW across India. Since March, ReNew Power has announced the commissioning of over 500 MW (300 MW in Gujarat, 110 MW in Rajasthan and now 105 MW) of combined wind and solar energy projects.

This year, the company had listed on United States (US)’ NASDAQ through a special purpose acquisition company (SPAC) merger with RMG Acquisition Corp II at a valuation of $8 billion.

Because of its location and technical advancement, Dholera SIR is a prime choice for many investors. Both the state and central government are encouraging companies and manufacturing units to establish their set up in this prosperous city. The government is also planning to start several long-term projects in this region. The growth and prosperity of Dholera will be bigger than Delhi and Singapore.

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