Grew Solar has announced securing a substantial solar module supply contract worth over ₹2,000 crore from NTPC Renewable Energy Ltd (NTPC REL), marking a significant business development for the solar equipment manufacturer.

Order Specifications and Scope

The comprehensive supply agreement encompasses the delivery of 1,464.5 MW of solar modules across multiple project locations throughout Uttar Pradesh. This substantial order represents a major commitment in India's renewable energy infrastructure development.

Manufacturing Capacity Expansion

Alongside this major order announcement, Grew Solar revealed its ongoing expansion plans for enhanced production capabilities. The company is currently expanding its Dudu plant to achieve an impressive 11 GW module manufacturing capacity, positioning itself to handle large-scale supply commitments.

NTPC Group Structure

NTPC Renewable Energy Ltd, the contracting entity for this order, operates as a wholly owned subsidiary of NTPC Green Energy Ltd. NTPC Green Energy Ltd functions as the dedicated renewable energy arm of NTPC Ltd, one of India's leading power sector companies. This organizational structure demonstrates the power giant's strategic focus on expanding its renewable energy portfolio through specialized subsidiaries.

Strategic Significance

This substantial order reinforces Grew Solar's position in India's competitive solar equipment market and highlights the continued momentum in the country's renewable energy sector. The multi-location deployment across Uttar Pradesh indicates a significant contribution to the state's solar energy infrastructure development.

GREW Solar, a solar PV manufacturer under the Chiripal Group umbrella, has successfully raised ₹300 crore in a significant funding round. The investment was led by prominent investors including Vijay Kedia and Rohit Kothari of GeeCee Holdings, marking a major milestone for the company's growth trajectory.

Funding Allocation

The newly acquired funds are earmarked for several strategic initiatives:

• Development of new products
• Strengthening technological infrastructure
• Driving expansion plans

Expansion Plans

GREW Solar has outlined ambitious expansion plans, including:

• Establishment of a 3.0 GW solar PV cell plant in Narmadapuram, Madhya Pradesh
• Further expansion to 8.0 GW capacity by the end of 2026

Recent Achievements

The company has already made significant strides in its growth journey:

• Launched M10 modules with capacities up to 550 Wp in FY23
• Commissioned a 1.2 GW PV module manufacturing facility at Dudu, Rajasthan

Future Projections

Looking ahead to 2025, GREW Solar has ambitious targets:

• Scaling operational capacity to 3.0 GW
• Delivering high-efficiency M10 TOPCon modules with capacities up to 590 Wp
• Expanding the Dudu plant to 11.0 GW capacity

This substantial investment and expansion plan positions GREW Solar as a significant player in India's growing solar energy sector. The company's focus on increasing manufacturing capacity and developing high-efficiency modules aligns with the country's push for renewable energy adoption and self-reliance in solar technology.

The backing of notable investors like Vijay Kedia and Rohit Kothari not only provides the necessary capital but also lends credibility to GREW Solar's vision and potential in the market. As the company moves forward with its expansion plans, it is poised to play a crucial role in India's solar energy landscape.