Surana to produce solar cells by next yr

City-based Surana Ventures Limited, part of the diversified Surana group, is in the advanced stage of setting up a 35-Mw solar cell manufacturing plant at Fabcity at a cost of Rs 115 crore.

“We have ordered the required equipment for the unit from Germany and the plant will commence production by June 2011,” managing director, Narendra Surana, told Business Standard.

Surana said the company had targeted to have a 100-Mw solar photovoltaic modules manufacturing capacity and 40-50 Mw of solar power generation in the next three-five years. Currently, it has a capacity to produce 60-Mw of solar modules.

He said the company was planning to set up 5-10 Mw solar power generation plants in various states and had already obtained registration for a 5-Mw plant in Andhra Pradesh besides applying for similar projects in Rajasthan and Gujarat.

This apart, the company is setting up a solar module plant in Bangladesh in a joint venture with that country’s East Coast Group. Surana Ventures will have a 40 per cent stake in Radiant Energy Limited, the joint venture firm.

“We have applied to the Bangladesh government for necessary clearances and the plant is expected to commence production by March 2011. The initial investment will be around Rs 10 crore,” Surana said.