‘Renaissance Solar and Electronic Materials’ (RSOLEC), a solar enterprise with operations in India and the USA, today announced its official launch and establishment, accompanied by a significant planned investment of about $300 million.
The launch of RSOLEC aligns with India’s "Atmanirbhar Bharat" mission, showcasing the country's capabilities in the solar value chain. The company’s primary focus for the next five years will be on Crystal Growth and Wafering in India, contributing significantly to the country's strategic solar manufacturing capacity. Over the long term, RSOLEC intends to expand its manufacturing over the entire solar value chain.
The company's roadmap anticipates achieving a capital intensity below $35 million per GW. Furthermore, RSOLEC aims at job creation, aiming to generate over 1,000 skilled jobs in the solar sector within the next three years, with more than 3,000 skilled job opportunities envisioned for the long term. This commitment to job growth aligns with economic development and skill enhancement objectives.
Dr. Milind Kulkarni, chairman and CEO of RSOLEC, articulated, "RSOLEC is poised to contribute to the solar energy revolution and initiate the cultural transformation required for success in the dynamic solar manufacturing sector. Our differentiation lies in our technology-driven, low-risk innovations, positioning RSOLEC at the forefront of the solar industry."
Professor Ashok Jhunjhunwala, president of IITM Research Park, voiced his endorsement, stating, "It is strategically imperative for India to develop the entire solar ecosystem, encompassing solar manufacturing. RSOLEC brings the requisite expertise for technology-driven solar manufacturing, and we are pleased to support this critically significant endeavour at the IIT Madras Research Park."
Renaissance Solar and Electronic Materials (RSOLEC) is a solar enterprise based in India and the USA, specializing in Solar Crystal Growth and Wafering. With a focus on innovative technology and global expertise, RSOLEC aims to revolutionize the solar manufacturing sector, contributing significantly to India’s solar energy future.
