Q. Grew is part of the diversified Chiripal Group, which has a strong foothold in textiles and petrochemicals. What motivated the group to venture into the renewable energy sector, and how does this align with Grew’s long-term vision for contributing to India’s renewable energy transition?
The Chiripal Group’s venture into the renewable energy sector stems from its commitment to long-term sustainability and growth. As a diversified conglomerate with deep roots in textiles and petrochemicals, we recognize that the future lies in cleaner, more sustainable energy sources. Renewable energy enhances energy security by diversifying the energy supply and reducing reliance on fossil fuels.
The shift to renewables represents a crucial step toward achieving global climate goals. For instance, the share of renewables in the global power mix has increased by 10 percentage points since 2010 to 30% in 2023. Advancements in renewable energy technologies have improved their efficiency, reliability, and affordability.
India’s renewable energy transition presents an immense opportunity, and Grew’s vision is to contribute significantly to this by offering cutting-edge solar solutions.
Our expansion into renewables aligns with our group’s goal of fostering industries that not only drive economic growth but also contribute to environmental preservation. Sustainability is a core value of Grew Energy and we are committed to reducing the carbon footprint through our products and operations. We are committed to community development, environmental conservation, and contributing to the socio-economic upliftment of the regions we operate in. Our initiatives will focus on renewable energy education, skill development, and promoting green practices.
Q. In the context of India’s push for more localized manufacturing, how is Grew ensuring that its supply chain for solar components like wafers and ingots is resilient and cost-effective?
Grew Energy is highly focused on building a resilient and cost-effective supply chain by emphasizing local and high-quality manufacturing of critical components such as wafers, ingots, and cells. The sector is labour-intensive, creating employment opportunities in manufacturing, installation, maintenance, and R&D at our sites.
Our upcoming 2.8GW 3-stage backward integrated setup for ingot, wafer, and cell manufacturing facility in Jammu is a testament to this commitment. By reducing reliance on imports and integrating backward into the manufacturing process, we aim to insulate ourselves from global supply chain disruptions while maintaining cost efficiency. This localized approach also aligns with the Indian government’s Atmanirbhar Bharat initiative, promoting self-reliance in key industries.
Q. With a target to manufacture 6.4GW solar modules by 2025, how does Grew plan to maintain a competitive edge in the rapidly evolving solar industry?
Grew Energy is focused on continuous innovation and implementing only the latest technology. We have our own R&D setup with a Lab for testing. Such investments in Topcon technology for cell and module production set us apart in terms of efficiency and performance.
Additionally, our scale of operations, strategic partnerships, and commitment to R&D will ensure we remain competitive in an industry that is evolving rapidly. We are also exploring advanced manufacturing techniques and digitalization to enhance productivity and reduce costs.
Q. The 1.2GW module manufacturing facility in Jaipur is already operational. What unique technologies or processes are being employed to ensure the highest efficiency and quality in solar module production?
At our 1.2 GW solar module manufacturing facility in Jaipur, we are employing state-of-the-art automation and quality control processes to ensure the highest standards of production. Our use of advanced equipment, combined with stringent testing protocols, ensures that our modules achieve superior efficiency and durability. We are also integrating smart manufacturing practices that optimize resource usage and minimize wastage, thereby enhancing our operational efficiency and sustainability.
Q. What challenges do you anticipate as Grew expands its manufacturing capacity across India, and how do you plan to address them?
As we expand, adhering to stringent environmental and regulatory requirements becomes increasingly complex. Managing environmental impacts, such as water usage and waste management, and ensuring compliance with evolving regulations will be essential. We are committed to adopting sustainable practices that align with both local and international environmental standards.
We are focused on optimizing our financial strategies, including exploring green financing options and strategic partnerships to fund our growth initiatives. Continuously upgrading our manufacturing technology and integrating new innovations while minimizing operational disruptions is crucial and we are focused on proactive R&D and fostering partnerships with technology leaders to stay ahead of the curve.
The solar industry being highly competitive, with numerous domestic and international players vying for market share where price pressures and changing market dynamics can pose challenges to maintain profitability. To address this, we are focusing on differentiating our products through innovation, efficiency, and value-added services that enhance customer satisfaction.
Q. How does Grew view the current policy environment in India for renewable energy, and what changes or support mechanisms would you advocate for to accelerate solar adoption?
Global efforts such as the Paris Agreement demonstrate the need to transition to renewable energy to limit global warming to well below 2 degrees Celsius. Governments worldwide are increasingly implementing policies and incentives to support renewable energy deployment, including feed-in tariffs, tax incentives, grants, and regulatory frameworks that facilitate grid integration. The current policy environment in India is favorable for renewable energy, with various government initiatives supporting solar adoption.
However, for faster acceleration, we advocate for more streamlined policies around land acquisition for large-scale solar projects, increased incentives for domestic manufacturing, and enhanced support for R&D in new solar technologies.
Additionally, simplifying the approval processes for renewable energy projects and providing more financial incentives for distributed solar installations could further drive growth in the sector. The recent announcement of the budget, PM Surya Ghar Muft Bijli Yojana, has been launched to install rooftop solar plants, providing free electricity up to 300 units every month to 1 crore households. The scheme has received an overwhelming response with over 1.28 crore registrations and 14 lakh applications, and we aim to further promote it.
Q. Looking ahead, how does Grew envision its role in the global renewable energy market, especially in terms of exports and international collaborations?
Grew Energy envisions a strong role in the global renewable energy market, with a focus on exports and international collaborations. We are already exploring partnerships with global technology leaders and are targeting key export markets in the US. India has set ambitious renewable energy goals, aiming to achieve 500 GW of non-fossil fuel energy capacity by 2030 and reach net-zero emissions by 2070. Grew Energy is fully aligned with these national objectives, contributing to India’s clean energy transition by expanding our solar manufacturing capabilities and promoting the adoption of renewable energy solutions.
Our commitment to producing high-quality, ‘Made in India’ solar products support India’s vision of becoming a global leader in sustainable energy. Our goal is to not only meet India’s renewable energy needs but also contribute to the global transition towards cleaner energy by offering world-class solar products that adhere to international standards.