Sunday, July 14, 2024

RenewSys Commits to Solar Expansion in Telangana

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In a bold move towards a sustainable future, RenewSys India Pvt Ltd has embarked on a groundbreaking journey in partnership with the Telangana government. With a passion for innovation and a commitment to environmental stewardship, RenewSys is set to revolutionize the solar energy landscape in the state.

Headquartered in Singapore, RenewSys is not just a company; it’s a beacon of progress, dedicated to harnessing the power of the sun for a brighter tomorrow. Through its integrated manufacturing facility, RenewSys produces solar PV modules and their key components, including Encapsulants, Backsheets, and PV cells.

Now, with the signing of a momentous Memorandum of Understanding (MoU), RenewSys pledges to invest approximately Rs 6,000 crores in setting up multiple PV modules and PV Cell manufacturing units in Telangana. This strategic partnership is not just about economic growth; it’s about catalyzing positive change and creating opportunities for the people of Telangana.

With a vision that extends over the next five years, RenewSys aims to generate direct employment for over 11,000 individuals, empowering communities and driving socio-economic development. As the ink dries on the MoU, the stage is set for RenewSys to weave its magic and transform the energy landscape of Telangana.

The signing ceremony, held in the presence of state IT and Industries Minister D Sridhar Babu, was a momentous occasion marked by hope and determination. Nestled within the factory premises at Fab City in Maheshwaram, on the outskirts of the bustling city, the event symbolized a new chapter in Telangana’s journey towards sustainability and prosperity.

With ambitious plans to set up solar PV modules, solar PV cells manufacturing units, and an Aluminum plant between FY 24 and FY 28, RenewSys is poised to leave an indelible mark on the state’s renewable energy sector.

This expansion builds upon RenewSys India’s existing footprint, with three manufacturing plants already operational in the country, including Hyderabad and Bengaluru. Among these, the factory in Hyderabad stands tall as the company’s largest integrated facility, a testament to its commitment to excellence and innovation.

As RenewSys embarks on this transformative journey, it invites stakeholders, partners, and communities to join hands in shaping a sustainable future for Telangana and beyond. Together, we can harness the power of the sun and pave the way for a greener, cleaner tomorrow.

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