RenewSys India to Invest INR 6,000 Cr in Telangana - News

RenewSys India Pvt Ltd is set to establish multiple photovoltaic (PV) modules and PV cell manufacturing units in Telangana, investing around INR 6,000 crore in phases. This initiative, signed under a Memorandum of Understanding (MoU) with the Telangana Government, is expected to create employment for 11,000 people over the next five years.  

The company, known for India’s first integrated solar PV modules manufacturing facility, operates three plants in Hyderabad, Bengaluru, and Patalganga. As part of the agreement, the company will invest INR 500 crore in two new 1-gigawatt (GW) lines for solar PV modules in the financial year 2024 (FY24), followed by an INR 1,250 crore investment in a 1 GW solar PV cells line in FY25.

Further investments include INR 550 crore in a solar PV modules project and INR 1,750 crore in a solar PV cell manufacturing facility. Additionally, the company plans to set up an aluminium plant with an investment of INR 1,700 to 2,000 crore in FY29. 

RenewSys, part of the Enpee Group, has witnessed substantial growth since starting operations in Hyderabad in 2015. The company is focusing on maintaining the city as its primary manufacturing hub, with state-level incentives facilitating its expansion plans.