Latest news with #Indosol
The Hindu
9 hours ago
- Business
- The Hindu
Indosol Solar offers jobs to 68 local youth in its Ramayapatnam plant
Indosol Solar Pvt. Ltd. offered employment certificates to 68 local youth at their project in Ramayapatnam on Wednesday (August 20), in the presence of Kandukur MLA Inturi Nageswara Rao, Nellore Collector O. Anand and Sub-Collector D. Hima Vamshee The solar module manufacturing company has earlier announced a landmark initiative to generate around 33,000 direct employment opportunities for land contributors and local youth. Speaking on the occasion, the company's chief operating officer Balachander Krishnan said: 'At Indosol Solar, we see our growth as meaningful only when it uplifts the communities around us. This initiative is our commitment to sharing the prosperity of development with land contributors and locals.' This initiative is part of Indosol Solar's broader mission to foster green employment, regional development, and ESG-driven growth in alignment with the nation's renewable energy goals and Atmanirbhar Bharat. Collector Anand said: 'Companies like Indosol and BPCL will generate a large number of jobs for locals, and the government will extend training and employment opportunities based on qualifications.' The Kandukur MLA said Chief Minister N. Chandrababu Naidu is moving forward with a vision to achieve Swarnandhra (Golden Andhra) by 2047, ensuring balanced industrial growth, massive investments, and sustainable opportunities for the youth across Nellore and Prakasam districts. Sub-Collector Himavamsi said port-based industries are the drivers of development, citing cities like Mumbai and Chennai as examples, and encouraged local youth to seize the excellent opportunity to work close to their homes. In a call for applications, the company's HR representatives announced that local youth can apply for jobs by submitting their applications at the company office or via email. The Skill Development Corporation will provide training based on the candidates' qualifications, with programmes starting on September 1 and focusing on professional skills for four hours a day.
Time of India
06-08-2025
- Business
- Time of India
Shirdi Sai Electricals-Backed, Indosol eyes IPO in FY27, to invest ₹69,000 cr on future capex
Indosol Solar Pvt Ltd, a Solar PV manufacturer and a wholly owned subsidiary of Shirdi Sai Electricals Ltd, is planning to go for an Initial Public Offering ( IPO ) next financial year after the company's ongoing 1 GW line in Andhra Pradesh is commissioned. Chairman and Managing Director of Shirdi Sai Electricals N Visweswara Reddy said Indosol Solar has been recognised under the Production Linked Incentive (PLI) scheme and awarded a total incentive of ₹5,175 crores, granted in two tranches. Indosol aims to become an eminent player in India's solar sector by developing a fully integrated, Giga-scale Solar PV manufacturing facility covering the entire process from quartz to PV modules. He further said Indosol, which plans to invest ₹69,000 crore over a period, has already commissioned a 500 MW module line last March but had to halt operations due to power instability, prompting the company to build a 33kV dedicated transmission line. "By the end of this financial year, we will commission a 1 GW integrated line (from ingot to cell module). We are planning an IPO, likely after the 1 GW line is commissioned and before the targeted 10 GW plant goes live. We plan to dilute 25-26 per cent initially, possibly through a Pre-IPO placement," Reddy told PTI in an exclusive interview. He further said the company may dilute up to 49 per cent, with Shirdi Sai retaining at least 51 per cent in Indosol. He also indicated that if the Indosol IPO is not possible, Shirdi Sai is likely to go public in FY27. The Andhra government has issued orders to allocate 8,348 acres of land to Indosol for the establishment of a vertically integrated Solar PV manufacturing plant at Karedu Village, in SPSR Nellore District. Additionally, 114.5 acres of land at Chevuru Village in the same district. On Indosol's backward integration plans, Reddy said the firm secured quartz mining rights in Kurnool and Anantapur, the primary raw material for polysilicon. The entire process-from quartz to metallurgical-grade silicon, to polysilicon, to ingots, wafers, cells, and modules-will be in-house, while about 40-50 per cent of polysilicon will be used internally; the rest will support an external ecosystem. On the future investment, the official said the Phase 1A- 1 GW line, which will come up in 1500 acres of land will be completed with ₹2,400 crore investment. The Phase I, which envisages 10 GW line (ingot to module) will be commissioned by December 2026, involving an investment of around ₹25,000 to ₹28,000 crore, including a 2,400 TPD (tons per day) glass plant while the Phase II involves 45,000 tons of polysilicon production and an additional 10 GW downstream capacity. "The long-term goal is to produce 90,000 MT of polysilicon, and 20 GW of Downstream (ingot to Module) supported by 120,000 MT of metallurgical silica and 120 MLD of desalination capacity. The overall Indosol project is planned at ₹64,000 crore investment," he said. Replying to a query, Reddy said the company has already tied up debt of ₹12,000 crore from internal equity and IREDA ( Indian Renewable Energy Development Agency ) and is in advanced talks with MNCs and PSUs for equity participation. Indosol Solar did not generate any revenue s last year due to infrastructure issues, but this year the company aims to generate around ₹600 crore revenue as the production is expected to commence. Shirdi Sai's consolidated order book stands at approximately ₹12,000 crore, with a significant portion expected to be completed in the next financial year. Export orders for transformers alone are valued at around ₹600 crore this year. Shirdi Sai's revenue was ₹3,400 crore in FY24, but declined to ₹3,000 crore in FY25 due to issues such as delayed government payments and election-related slowdowns. However, this year, the company anticipates ₹6,500 crore revenue.
Economic Times
06-08-2025
- Business
- Economic Times
Shirdi Sai Electricals-Backed, Indosol eyes IPO in FY27, to invest Rs 69,000 cr on future capex
Indosol Solar Pvt Ltd, a Solar PV manufacturer and a wholly owned subsidiary of Shirdi Sai Electricals Ltd, is planning to go for an Initial Public Offering (IPO) next financial year after the company's ongoing 1 GW line in Andhra Pradesh is commissioned. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indosol Solar Pvt Ltd, a Solar PV manufacturer and a wholly owned subsidiary of Shirdi Sai Electricals Ltd, is planning to go for an Initial Public Offering ( IPO ) next financial year after the company's ongoing 1 GW line in Andhra Pradesh is and Managing Director of Shirdi Sai Electricals N Visweswara Reddy said Indosol Solar has been recognised under the Production Linked Incentive (PLI) scheme and awarded a total incentive of Rs 5,175 crores, granted in two aims to become an eminent player in India's solar sector by developing a fully integrated, Giga-scale Solar PV manufacturing facility covering the entire process from quartz to PV further said Indosol, which plans to invest Rs 69,000 crore over a period, has already commissioned a 500 MW module line last March but had to halt operations due to power instability, prompting the company to build a 33kV dedicated transmission line."By the end of this financial year, we will commission a 1 GW integrated line (from ingot to cell module). We are planning an IPO, likely after the 1 GW line is commissioned and before the targeted 10 GW plant goes live. We plan to dilute 25-26 per cent initially, possibly through a Pre-IPO placement," Reddy told PTI in an exclusive further said the company may dilute up to 49 per cent, with Shirdi Sai retaining at least 51 per cent in also indicated that if the Indosol IPO is not possible, Shirdi Sai is likely to go public in Andhra government has issued orders to allocate 8,348 acres of land to Indosol for the establishment of a vertically integrated Solar PV manufacturing plant at Karedu Village, in SPSR Nellore District. Additionally, 114.5 acres of land at Chevuru Village in the same Indosol's backward integration plans, Reddy said the firm secured quartz mining rights in Kurnool and Anantapur, the primary raw material for polysilicon. The entire process-from quartz to metallurgical-grade silicon, to polysilicon, to ingots, wafers, cells, and modules-will be in-house, while about 40-50 per cent of polysilicon will be used internally; the rest will support an external the future investment, the official said the Phase 1A- 1 GW line, which will come up in 1500 acres of land will be completed with Rs 2,400 crore Phase I, which envisages 10 GW line (ingot to module) will be commissioned by December 2026, involving an investment of around Rs 25,000 to Rs 28,000 crore, including a 2,400 TPD (tons per day) glass plant while the Phase II involves 45,000 tons of polysilicon production and an additional 10 GW downstream capacity."The long-term goal is to produce 90,000 MT of polysilicon, and 20 GW of Downstream (ingot to Module) supported by 120,000 MT of metallurgical silica and 120 MLD of desalination capacity. The overall Indosol project is planned at Rs 64,000 crore investment," he to a query, Reddy said the company has already tied up debt of Rs 12,000 crore from internal equity and IREDA ( Indian Renewable Energy Development Agency ) and is in advanced talks with MNCs and PSUs for equity Solar did not generate any revenue s last year due to infrastructure issues, but this year the company aims to generate around Rs 600 crore revenue as the production is expected to Sai's consolidated order book stands at approximately Rs 12,000 crore, with a significant portion expected to be completed in the next financial year. Export orders for transformers alone are valued at around Rs 600 crore this Sai's revenue was Rs 3,400 crore in FY24, but declined to Rs 3,000 crore in FY25 due to issues such as delayed government payments and election-related slowdowns. However, this year, the company anticipates Rs 6,500 crore revenue.
Time of India
06-08-2025
- Business
- Time of India
Shirdi Sai Electricals-Backed, Indosol eyes IPO in FY27, to invest Rs 69,000 cr on future capex
Indosol Solar Pvt Ltd, a Solar PV manufacturer and a wholly owned subsidiary of Shirdi Sai Electricals Ltd, is planning to go for an Initial Public Offering ( IPO ) next financial year after the company's ongoing 1 GW line in Andhra Pradesh is commissioned. Chairman and Managing Director of Shirdi Sai Electricals N Visweswara Reddy said Indosol Solar has been recognised under the Production Linked Incentive (PLI) scheme and awarded a total incentive of Rs 5,175 crores, granted in two tranches. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Indosol aims to become an eminent player in India's solar sector by developing a fully integrated, Giga-scale Solar PV manufacturing facility covering the entire process from quartz to PV modules. He further said Indosol, which plans to invest Rs 69,000 crore over a period, has already commissioned a 500 MW module line last March but had to halt operations due to power instability, prompting the company to build a 33kV dedicated transmission line. "By the end of this financial year, we will commission a 1 GW integrated line (from ingot to cell module). We are planning an IPO, likely after the 1 GW line is commissioned and before the targeted 10 GW plant goes live. We plan to dilute 25-26 per cent initially, possibly through a Pre-IPO placement," Reddy told PTI in an exclusive interview. Live Events He further said the company may dilute up to 49 per cent, with Shirdi Sai retaining at least 51 per cent in Indosol. He also indicated that if the Indosol IPO is not possible, Shirdi Sai is likely to go public in FY27. The Andhra government has issued orders to allocate 8,348 acres of land to Indosol for the establishment of a vertically integrated Solar PV manufacturing plant at Karedu Village, in SPSR Nellore District. Additionally, 114.5 acres of land at Chevuru Village in the same district. On Indosol's backward integration plans, Reddy said the firm secured quartz mining rights in Kurnool and Anantapur, the primary raw material for polysilicon. The entire process-from quartz to metallurgical-grade silicon, to polysilicon, to ingots, wafers, cells, and modules-will be in-house, while about 40-50 per cent of polysilicon will be used internally; the rest will support an external ecosystem. On the future investment, the official said the Phase 1A- 1 GW line, which will come up in 1500 acres of land will be completed with Rs 2,400 crore investment. The Phase I, which envisages 10 GW line (ingot to module) will be commissioned by December 2026, involving an investment of around Rs 25,000 to Rs 28,000 crore, including a 2,400 TPD (tons per day) glass plant while the Phase II involves 45,000 tons of polysilicon production and an additional 10 GW downstream capacity. "The long-term goal is to produce 90,000 MT of polysilicon, and 20 GW of Downstream (ingot to Module) supported by 120,000 MT of metallurgical silica and 120 MLD of desalination capacity. The overall Indosol project is planned at Rs 64,000 crore investment," he said. Replying to a query, Reddy said the company has already tied up debt of Rs 12,000 crore from internal equity and IREDA ( Indian Renewable Energy Development Agency ) and is in advanced talks with MNCs and PSUs for equity participation. Indosol Solar did not generate any revenues last year due to infrastructure issues, but this year the company aims to generate around Rs 600 crore revenue as the production is expected to commence. Shirdi Sai's consolidated order book stands at approximately Rs 12,000 crore, with a significant portion expected to be completed in the next financial year. Export orders for transformers alone are valued at around Rs 600 crore this year. Shirdi Sai's revenue was Rs 3,400 crore in FY24, but declined to Rs 3,000 crore in FY25 due to issues such as delayed government payments and election-related slowdowns. However, this year, the company anticipates Rs 6,500 crore revenue. ETMarkets WhatsApp channel )
Time of India
04-08-2025
- Business
- Time of India
Andhra Pradesh CM Naidu turns heat on defaulters in green energy space
Chief minister N Chandrababu Naidu-led Andhra Pradesh government has launched a crackdown on renewable energy developers sitting on land parcels without initiating work and has ordered scrutiny of projects worth ₹4 lakh crore. In the first action, the government has cancelled a 328 MW wind power project allocated to Sreeja Infrastructure, a subsidiary of the Italian renewable energy major Enel Green, which was recently acquired by Gujarat-based Waaree Energies . The project was sanctioned in 2018 when Naidu was in power. However, the Capacity Sanction Agreement, required for formal commencement of work, was signed in 2022 under the previous Jagan Mohan Reddy-led YSRCP government. The company had to complete the project in 24 months by December 2024. The government has now cancelled the project and ordered forfeiture of performance bank guarantee worth ₹6.5 crore. Over the last two weeks, two hydro projects have also been cancelled for delayed implementation. The Naidu-led administration has now sought updated implementation status and timelines from all renewable projects allotted in the state, covering over 60 GW of capacity. This forms part of a broader audit aimed at unlocking stalled green energy potential in Andhra Pradesh. Sources said projects with an investment worth ₹4 lakh crore are under scrutiny. These include big players like Axis Energy, Suzlon Energy , Indosol and Ecoren. According to sources, close to 36 project sites have been allotted to three investors with no progress on ground. Indosol has been allotted 1.52 lakh acres of land to develop 3000 MW project, Ecoren has been allotted 4.35 lakh acres to develop 3500 MW capacity at six locations and Axis has 15.13 lakh acres of land to develop 12,000 MW capacity at different locations. Sources indicated that the government is serious about taking action against those sitting on solar and wind resources and action against Sreeja Infrastructure is to signal that failure to commence work immediately would result in cancellation and penalties. "This is not just about enforcing deadlines. This is about reclaiming credibility, land, and clean energy targets," said an official adding, "Valuable wind zones are being locked up by companies that are not acting. In a resource-constrained geography like ours, we can't afford such strategic delays." Unlike government land leases, Sreeja's project is slated to be built on private land, but the government had already earmarked exclusive wind coordinates for the project, effectively blocking any other renewable developer from using the site. With limited high-velocity wind zones in Andhra Pradesh, these land-coordinate allocations are prized assets. For Naidu, who returned to power with a strong development agenda, the message is clear - land is not to be hoarded, and renewable energy, once allotted, must translate into megawatts on the grid. The government has set a target of 160 GW of renewable energy capacity by 2030.
