Companies

Solargise India to set up Rs 900-cr plant near Bengaluru

Our Bureau New Delhi | Updated on January 20, 2018

Bengaluru-based firm Solargise India announced its commercial launch of operations on Wednesday and said that it will invest ₹900 crore to set up a manufacturing unit with annual capacity to make 500 MW of solar photovoltaic cells and modules.

Founded in 2015 by Raj Basu, the company will set up the plant in Karnataka’s Dabaspet Industrial Area near Bengaluru.

The company has tied up with GE, which will act as the technology and engineering procurement and construction partner.

Apart from manufacturing solar cells and modules, Solargise also plans to enter into project development and aims to deliver 2,000 MW of solar power projects over the next 3-4 years using GE’s 1.5kV inverters, transformers and other systems.

Viable alternative

“We are aiming to create the entire ecosystem necessary to make renewable energy the alternative base power,” said Basu, Chairman of the company, at the launch.

He added that the use of GE’s inverters increases the efficiency of the solar plants being developed by Solargise and reduce the overall system costs.

Tarun Kapoor, Joint Secretary, Ministry for New & Renewable Energy, said, “Right now, the domestic manufacturing capacity stands at 1,200 MW per annum which is likely to go up to 2,000 MW per annum in a few months. Another plant of 1,200 MW per annum is expected by December. Therefore, by the end of the year, India should have a capacity of 3,200 MW per annum.”

“Products like Solargise, which aim to be cost effective and efficient, reduces the problems for the Ministry as well because they can be compete with imports without requiring support from the government,” Kapoor added.

Published on March 23, 2016

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