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BusinessShirdi Sai Electricals signs MoU with German firm to set up 4GW...

Shirdi Sai Electricals signs MoU with German firm to set up 4GW solar unit

Published: 1st Dec 2021 6:37 pm

Hyderabad: Hyderabad-based Shirdi Sai Electricals Limited (SSEL), which emerged as one of the successful bidders in IREDA’s bid to manufacture high efficiency solar PV modules, signed a MoU with Viridis.iQ GmbH, a German engineering and consulting services firm to assist SSEL in setting up of the 4 GW manufacturing unit for Polysilicon + Ingot-Wafer + Cell + Module.

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Shirdi Sai Electricals has been operating in the Transmission and Distribution sector and transformer manufacturing, with more than 25 years of expertise. Viridis.iQ GmbH has expertise in silicon-based value chain including metallurgical silicon, polysilicon, ingoting, wafering, solar cell and modules.

The initiation of this project is planned in a phased manner. In the early stage both SSEL and Viridis.iQ GmbH will finalise the conceptual design, devise the business plan to kickstart the project after which Viridis.iQ GmbH will extend the necessary technical/engineering support followed by construction and operations to start.

Post the start of operations, the project will be supported by Viridis.iQ for up to one year to stabilise the operations.

Commenting on this development, the CEO of SSEL, Sharat Chandra, said, this association with Viridis.iQ GmbH would strengthen SSEL in setting up one of India’s largest production facilities in the PV value chain. This would help SSEL to produce world-class solar cells and modules contributing for the domestic and international markets at the same time, meeting the Aatmanirbhar Bharat Abhiyan’s objective.

The executive director of the Virids.iQ GmbH, Wolfgang Herbst, said the collaboration with SSEL helps them to enter into the growing Indian market and would strengthen the business relations between both the countries.

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