India’s Hindalco Industries plans to begin photo voltaic modules manufacturing and arrange a plant within the western state of Gujarat, two individuals accustomed to the matter informed Reuters on Tuesday.
The corporate, owned by cement to style retail conglomerate Aditya Birla Group, is evaluating a five-year plan within the aggressive sector, one of many sources mentioned.
Hindalco has recognized land in port city Mundra in Gujarat, the second individual mentioned.
India’s No.2 aluminium maker, Hindalco Industries, is but to get board approval and finalise its capital expenditure plans, each sources mentioned.
The individuals declined to be named as they weren’t authorised to talk to the media.
The photo voltaic module manufacturing might be a great match given Hindalco’s dominance in aluminium manufacturing, one of many sources mentioned.
Hindalco didn’t instantly reply to a Reuters request for feedback.
If applied, this could be the corporate’s first foray in manufacturing inexperienced vitality parts. In 2022, the corporate had signed a collaboration with Greenko Group to provide photo voltaic and wind capability for its smelter.
A few of India’s prime vitality firms are already concerned in photo voltaic module manufacturing.
Oil-to-chemicals conglomerate Reliance Industries has plans to begin making photo voltaic modules later this 12 months at its giga manufacturing facility in Jamnagar, Gujarat, whereas Tata Energy is already producing photo voltaic modules and cells at its crops.
India is increasing its renewable vitality capability and goals so as to add a minimum of 500 gigawatts of unpolluted vitality by 2030.
(Solely the headline and film of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Printed: Sep 18 2024 | 12:07 AM IST
