Surana Ventures to set up Rs 90-cr module facility in Fab City

Priya sundarajan | | Updated on: Nov 11, 2011

Surana Ventures Ltd, part of the Hyderabad-based Surana group, is at an advanced stage of deployment of a solar module manufacturing plant at the Fab City, near Hyderabad, with an outlay of Rs 90 crore.

The company, which has also taken up deployment of solar photo-voltaic power generation plants, is set to commission a 5 MW plant at Gujarat by January.

Speaking to Business Line at Solarcon India 2011, Mr Narendra Surana, Managing Director, said the company has tied up the requisite funds from two public sector banks and has entered into arrangements with Centrotherm PV for equipment. We expect to commission the 35 MW module manufacturing facility by January 2012.”

This facility will have capability to manufacture 35 MW of solar cells and 60 MW of solar modules. These would not only be useful for the company’s internal consumption as we set about implementing more solar farms, but also to serve the local market, which is poised to grow big in the next two-three years, he said.

To commission 5 MW unit

“Apart from the Gujarat project which is expected to be commissioned soon, we are also looking at taking up more projects in Gujarat and Rajasthan. We have won the mandate for a 5 MW unit in Andhra Pradesh. All these along with bids under way will offer scope for further expansion,” he said.

Referring to the high interest rate regime in India, he felt that Government needs to do something to bring down the overall costs for domestic manufacturers. Unless they do this, we would not be competitive, he said.

Published on November 12, 2011

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