Shirdi Sai Electricals Bags LoA for 4000 MW Solar PV Modules Manufacturing Unit
New Delhi : Shirdi Sai Electricals Limited (SSEL), on November 11 announced that it has bagged the Letter of Award (LoA) from The Indian Renewable Energy Development Agency Limited (IREDA) for setting up Manufacturing Capacities for High-Efficiency Solar PV Modules. The new project will be operated under the Production Linked Incentive scheme (PLI), floated by the Ministry of New and Renewable Energy (MNRE).
IREDA had earlier invited bids for setting up manufacturing facilities for High-Efficiency Solar PV Modules. SSEL successfully participated and won this bid for a capacity of 4,000 MW to set up Polysilicon + Ingot-Wafer + Cell + Module alongside other industrial groups like Reliance and Jindal.
Sharat Chandra, CEO of SSEL said that this Letter of Award will catalyze their journey in the future, and added that they are committed to creating a clean environment for future generations.
"We are honored to be a part of Atma Nirbhar Bharat Abhiyan, which is the brainchild of our honorable prime minister Narendra Modi Ji. Through these manufacturing initiatives, we assure that our journey in the future will be committed to create a clean environment for our future generations," added Sharat Chandra.
Shirdi Sai Electricals has been one of the leading players in India's Transmission and Distribution sector for the last 25 years. The company is a leading manufacturer of transformers, and its products are installed across the country on various utility grids. Apart from transformers, SSEL has also installed more than 80,000 kilometers of LT and HT transmission lines and has worked on many complex turnkey projects in both domestic and international markets.
India has set an ambitious target of setting up 1,75,000 MW capacity of renewable energy by 2022 and 4,50,000 MW by 2030. Based on the techno-economic analysis, Central Electricity Authority (CEA) has indicated in their Optimum Energy Mix report that 2,80,000 MW capacity from solar energy will be needed by 2029-30 which needs an installation of 25,000 MW per annum of Solar energy till 2030.