Grew Energy Pvt Ltd, the renewable energy arm of the Chiripal Group, has recently sealed a monumental Memorandum of Understanding (MOU) with the Gujarat government at the 10th Vibrant Gujarat Global Summit. The MOU, valued at Rs 3,800 crore, makes the way for the establishment of a 2.8 GW solar facility in Dholera, Gujarat, marking a turning point for the up-and-coming solar manufacturer and services providers.
Founded in 2022, Grew Energy pictures itself as the next renewable energy giant, driven by its dedication to innovative solar solutions. The company has already begun its journey by setting up a 1.2 GW module manufacturing facility at Dudu, near Jaipur, Rajasthan, and plans to add another 1.6 GW at the same location. The recent Rs 3,800 crore deal is the largest investment in the company’s history, with funds being sourced through a combination of internal gains and external funding.
The MOU signed with the Gujarat government aims to facilitate the establishment of a 2.8 GW solar component manufacturing facility in Dholera. This planned move is expected to not only support Grew Energy’s position in the renewable energy sector but also contribute remarkably to the economic domain of Gujarat. The initiative is projected to generate over 1600 employment opportunities in and around the Dholera region, providing a great boost to the local economy. This move aligns with the broader national agenda of promoting clean and sustainable energy solutions to address the challenges of climate change.
The Dholera project is scheduled to kick off in 2025, and Grew Energy sees it as a reason for the company’s growth and future expansion plans. The company expressed its gratitude to the government of Gujarat for placing its trust in Grew Energy and ensuring a smooth process for the proposed manufacturing unit. The government’s support is anticipated to play a crucial role in speed up approvals and clearances required for the establishment of the 2.8 GW solar facility.
The Vibarant Gujarat Summit 2024 is important for Grew Energy, as the MOU not only solidifies their vision to renewable energy but also positions them as one of the major players in Gujarat’s solar aspect. The company’s vision of emerging as one of the leading players in the renewable energy ecosystem in the country takes a giant leap forward with the Dholera project.
