Ray Green Energy to Establish Solar Cell and Module Manufacturing Plant in Madhya Pradesh
Rays Green Energy Manufacturing, a subsidiary of Rays Power Infra, is setting up a 1.5 GW solar cell and 3 GW solar module manufacturing facility in Madhya Pradesh, with an estimated investment of INR 1,400 crore.
December 13, 2024. By Mrinmoy Dey
The state-of-the-art manufacturing facility will cover 45 acres and will include integrated production lines designed for high-efficiency solar cells and modules. It will house a 1.5 GW solar cell plant and 3 GW solar module assembly line to boost India’s domestic capacity. Total estimated investment is pegged at about INR 1,400 crore.
The company has already received a letter of intent from the Madhya Pradesh government from Chief Minister Mohan Yadav, at the Regional Industry Conclave 2024 held in Narmadapuram.
The project is set to create around 1,200 direct and indirect jobs, driving local employment, skill development, and economic growth in Madhya Pradesh.
Aligned with Rays Power Infra Ltd.'s vision of building a fully integrated renewable energy ecosystem in India, the initiative aims to enhance backward integration, reduce import dependency, and reinforce India’s position as a global renewable energy leader.
Earlier this month, the Madhya Pradesh Cabinet approved expanding Industrial Area Mohasa-Babai in Narmadapuram to 884 acres, by allocating an additional 442 acres, to boost the manufacturing of electrical and renewable energy equipment.
The state government has established the manufacturing zone to streamline land allotment and approvals while offering advanced infrastructure and shared testing facilities, aiming to significantly reduce manufacturing costs and enhance the competitiveness of the domestic industry.
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