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Hindalco plans solar module manufacturing in Gujarat
Industry News- Sep 18,24
Previously, in 2022, Hindalco collaborated with Greenko Group to develop solar and wind capacity for its smelter operations.
Hindalco Industries, India's second-largest aluminum producer, is planning to enter solar module manufacturing and set up a plant in Gujarat, according to sources cited by Reuters on September 17. The company, owned by the Aditya Birla Group, is reportedly evaluating a five-year plan to venture into this competitive sector. However, board approval and finalisation of capital expenditure plans are still pending.
The move into solar module manufacturing aligns with Hindalco's dominance in aluminum production. If implemented, this will mark the company's first entry into manufacturing green energy components. Previously, in 2022, Hindalco collaborated with Greenko Group to develop solar and wind capacity for its smelter operations.
This initiative follows similar moves by other conglomerates in India. Reliance Industries plans to start solar module production at its giga factory in Jamnagar, Gujarat, later this year, while Tata Power already manufactures solar modules and cells at its plants. These developments align with India's goal to expand its renewable energy capacity and add at least 500 gigawatts of clean energy by 2030.
(Business Standard)
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