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Indian solar brand Goldi Solar pledges Rs 5,000 cr investments in renewable space

by TLAteam September 27, 2022September 27, 2022
written by TLAteam September 27, 2022September 27, 2022
Indian solar brand Goldi Solar pledges  Rs 5,000  cr investments in renewable space

Goldi Solar, a multinational provider of solar energy solutions, has announced plans to invest over Rs 5,000 crore in business expansion, particularly in module, cell, and raw material manufacturing capabilities.

Business News

It intends to begin production at its cell manufacturing facility in Gujarat.

Goldi Solar is a well-known Indian solar brand. The firm manufactures panels, offers EPC services, and operates as an independent power producer. It is a multinational company headquartered in Surat, Gujarat, that caters to several international brands in over 20 countries.

It has two facilities of 2.5 GW at Pipodara and Navsari in Gujarat. Subsequently, it will expand its capacity to 5 GW.

Goldi Solar also plans to recruit over 4,500 people across various functions, increasing its workforce to over 5,500, including the existing workforce.

“To create employment at the grassroots level, Goldi Solar plans to hire 25 per cent of the workforce from the local tribal regions adjoining its proposed manufacturing facility,” said Captain Ishver Dholakiya – Managing Director of Goldi Solar.

Goldi Solar will offer three-month certification programmes at a skill development centre in Navsari that it plans to open in partnership with the NSDC (National Skill Development Council) to train new recruits for a career in renewables in Gujarat.

The MD described renewables as the energy of the future and stated that the company’s plans to launch a new product line and expand capacity for module manufacturing are intended to increase the supply of clean energy and motivate its large-scale replacement of fossil fuel.

“At Goldi Solar, we have committed to the Prime Minister’s vision of Atmanirbhar Bharat and aspire to create an India self-reliant in renewable energy,” Dholakiya added.

In India, the country’s goal toward 500 GW of non-fossil-fuel energy sources by 2030 could create 3.4 million new job opportunities (of short or long duration), or about 1 million direct full-time equivalents, a joint report published by International Renewable Energy Agency and the International Labour Organization titled ‘Renewable Energy and Jobs — Annual Review 2022’ said.

In 2020-21, India created 863,000 green jobs, of which 217,000 were in solar photovoltaic vertical and 414,000 in hydropower, the joint report said recently. Jobs in solar photovoltaic (PV) in 2021, the fastest-growing sector, accounted for more than a third of the total renewable energy workforce.

India added 10.3 GW of solar PV capacity in 2021, up from 4.2 GW installed in 2020, the joint report said.

Worldwide, the solar vertical scored a new record in 2021, producing 132.8 GW of solar PV capacity installations, up from 125.6 GW in 2020, with many countries, including India, setting new annual records.

The MD described renewables as the energy of the future and stated that the company’s plans to launch a new product line and expand capacity for module manufacturing are intended to increase the supply of clean energy and motivate its large-scale replacement of fossil fuel.

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