+
Chiripal Group to venture into solar equipment space
POWER & RENEWABLE ENERGY

Chiripal Group to venture into solar equipment space

Ahmedabad-based conglomerate Chiripal Group, which operates in the textile, petrochemicals, education, non-banking finance, and infrastructure sectors, plans to diversify into the solar power equipment space with an estimated investment of Rs 60 billion with a project in Jaipur.

“A new company, Chiripal Renewable Energy, is being formed for the project. Chiripal Group has purchased 26 acres of land at Dudu, situated on the Jaipur-Delhi national highway. We will make solar panels, cells and glass at the facility,” said Vinay Thadani, chief executive officer of Vishal Fabrics, the flagship company of the group.

The solar equipment project will be fully commissioned in the next four years in four phases, said Thadani, who is also director of the new company. The first phase will be commissioned by the end of June 2023. The group will apply for benefits under the product linked incentive scheme, he said.

The solar equipment plant will have the capacity to produce 4 gigawatt (GW) solar panels, three GW solar cells and 300 metric tonne (MT) solar glass, Thadani said.

Despite the pandemic and higher cotton prices, Vishal Fabrics’ exports increased to 20% of total sales of Rs 15.50 billion in 2021-22 from around 9% in the previous year, Thadani said.

Also Read
NGSL to build a balance of systems for 325-MW solar projects
Rising solar cell and module costs pressure developers


Ahmedabad-based conglomerate Chiripal Group, which operates in the textile, petrochemicals, education, non-banking finance, and infrastructure sectors, plans to diversify into the solar power equipment space with an estimated investment of Rs 60 billion with a project in Jaipur. “A new company, Chiripal Renewable Energy, is being formed for the project. Chiripal Group has purchased 26 acres of land at Dudu, situated on the Jaipur-Delhi national highway. We will make solar panels, cells and glass at the facility,” said Vinay Thadani, chief executive officer of Vishal Fabrics, the flagship company of the group. The solar equipment project will be fully commissioned in the next four years in four phases, said Thadani, who is also director of the new company. The first phase will be commissioned by the end of June 2023. The group will apply for benefits under the product linked incentive scheme, he said. The solar equipment plant will have the capacity to produce 4 gigawatt (GW) solar panels, three GW solar cells and 300 metric tonne (MT) solar glass, Thadani said. Despite the pandemic and higher cotton prices, Vishal Fabrics’ exports increased to 20% of total sales of Rs 15.50 billion in 2021-22 from around 9% in the previous year, Thadani said.Also Read NGSL to build a balance of systems for 325-MW solar projectsRising solar cell and module costs pressure developers

Next Story
Technology

Minda, Qualcomm Join Forces for Smart Auto Cockpit Tech

Minda Corporation Limited, the flagship of the Spark Minda Group, has announced a strategic partnership with Qualcomm Technologies, Inc. to develop intelligent and connected cockpit solutions for the Indian automotive market. The upcoming smart interface will be powered by Qualcomm’s Snapdragon Cockpit Platform.Commenting on the collaboration, Suresh D, Group CTO of Minda Corporation, said, “This partnership with Qualcomm Technologies marks a major milestone in advancing Minda’s digital cockpit capabilities. By utilising Qualcomm’s cutting-edge automotive platforms, we can now offer se..

Next Story
Infrastructure Transport

Railways Spent Rs 604.7 Billion on Passenger Subsidy in FY24

New Delhi – The Indian Railways provisionally spent Rs 604.7 billion in subsidies during the financial year 2023–24, covering 45 per cent of passenger travel costs, Railway Minister Ashwini Vaishnaw informed the Lok Sabha on Wednesday.In a written response to questions from multiple Members of Parliament regarding the recent rail fare hike, Vaishnaw stated that the Indian Railways continues to offer one of the most affordable transport services globally, ferrying over 7.2 billion passengers annually."The total amount of subsidy provided in FY 2023–24 on passenger travel is provisionally ..

Next Story
Infrastructure Urban

Auto Sector Can Cut Emissions by 87% by 2050: CEEW

India’s automobile industry could reduce its manufacturing emissions by 87 per cent by 2050 through a shift to green electricity and low-carbon steel, according to a study released by the Council on Energy, Environment and Water (CEEW).The report estimates that if original equipment manufacturers (OEMs) and their suppliers target net-zero emissions by 2050, annual emissions could fall from a projected 64 million tonnes of CO₂ (under the business-as-usual scenario) to just 9 million tonnes. This would require OEMs to adopt 100 per cent green electricity and steel suppliers to source 56 per ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?