July 3, 2024

Dhash PV Invests INR 346.35 Crore in Solar PV Plant in Sira

Dhash PV Technologies Limited, established in 2016, has received government approval for setting up a mega solar PV manufacturing plant at Sira, in Tumkur district, by investing INR 346.35 crore in incorporating state-of-the-art equipment.

The establishment of this huge solar energy factory is a major step towards achieving India’s ambition for indigenous manufacturing of solar power.

Strategic Importance and Economic Impact

The plant represents an important new source of PV modules at a scale significant enough to satisfy rising demand for renewable energy systems.

The plant project also has the potential for generating many jobs into the local economy, and a new set of skills employment for people living in and around the city of Tumkur. The company has made an investment to support the drive behind a clean energy future by investing in developing the clean energy resources of India.

Armed with leading-edge technology, Sira is set to produce high efficiency solar PV modules, having leapfrogged technology innovations that could push the efficiency and output of solar energy systems significantly higher – and the cost associated with solar energy deployment lower.

It is set to lead the race in solar energy, pushing the boundaries of innovation and offering a new benchmark for quality and efficiency.

Contribution to India's Renewable Energy Goals

Behind this big investment are India’s lofty renewables targets: the country hopes to have 175 GW of renewables capacity by next years – that’s more than four times the present amount. But it’s set to increase that 10-fold again to 450 GW by 2030.

Among the targets are to increase the share of solar electricity production to at least 10 per cent of total electricity generation by 2030, and to bring down import dependency to less than three per cent in the same year.

All these will make the new manufacturing plant a decisive factor. Reducing the reliance on imported solar modules will boost energy security, and a bigger share of domestically manufactured modules will help in achieving the 10 per cent target by 2030.

The setting up of this mega solar PV manufacturing plant is evidence of the dynamism in the renewable energy sector in India, a fact that emphasizes the need for domestic manufacturing of solar in large scale roll out and that there is potential for big investments into infrastructure of renewable energy.

These projects are usually extremely successful, in turn inspiring investors in other industrial companies to also explore and invest in clean energy technologies.

Strengthening Local Supply Chains

This new solar PV manufacturing plant of Dhash PV Technologies Limited in Sira, Tumkur, will ensure the local supply chain of solar components.

It will also help India phase out its dependence on imported solar technology, a key bottleneck that has delayed the large-scale growth of renewable energy in the country and considerably increased the cost of renewable energy generation.

The cutting-edge manufacturing technologies at the new plant will raise the technological profile of solar energy in India. The plant will use the latest machinery and production technics so that the output and efficiency of solar modules will be higher. This is one of the technologies that India will need to stay ahead in the global solar race.

Scaling Up Renewable Energy Capacity

India’s solar industry has been growing rapidly, and pipedream targets for scaling up the country’s renewable energy capacity could help this firm and others. New manufacturing plants will help Indian companies scale up production of new solar cells to meet pipedream targets.

While keeping this up, India is sure to take its position as one of the biggest solar power producers of the world.

The fact that the manufacturing capability is improving augurs well for export of solar PV modules into international markets, and partnership with global firms and participation in international projects will strengthen India’s role in the global renewable energy scenario.

At the same time, this approach will facilitate the exchange of technology and knowledge, promoting regional innovation in the industry.

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