Jakson Engineers plans Rs 2,000 cr investment to expand solar mfg biz

Don't want to miss the best from Business Standard?

Jakson Group arm Jakson Engineers on Wednesday said it is planning to invest about Rs 2,000 crore for expansion of its solar manufacturing business.

Jakson Engineers Ltd (JEL) -- part of the leading energy and infrastructure conglomerate Jakson Group -- announced a significant expansion of its solar manufacturing business, a company statement said.

According to the statement, the company plans to invest approximately Rs 2,000 crore for setting-up a 2,500 MW Solar Cell manufacturing facility, which will be developed in two phases and is simultaneously expanding its existing solar module manufacturing facility to 2,000 MW.

This expansion marks a major milestone for Jakson Engineers, reinforcing its dedication to meeting the growing demand for solar energy solutions.

By significantly ramping up its manufacturing capabilities, Jakson aims to better serve its growing customer base and contribute meaningfully to the global shift towards renewable energy.

Sundeep Gupta, Vice Chairman & Managing Director of the Jakson Group, said in the statement, "This expansion not only strengthens our position in the market but also underscores Jakson's remarkable growth and long-standing commitment to sustainability.

"Our company has been consistently scaling new heights in the solar manufacturing sector. This move further solidifies our commitment to becoming a fully integrated solar solutions provider."

The expansion, coupled with the latest state-of-the-art TOPCON technology, highlights the company's dedication to sustainability and innovation, ensuring that its products meet the highest standards of efficiency and reliability.

The first phase of solar cell plant is set to be commissioned within the next 15 months, while the module plant expansion is expected to be completed within six months.

Upon completion, the expansion plan is set to create 1,200 new jobs in the region.

This significant investment aligns with JEL's commitment to sustainable energy development in India. With the country's current solar cell manufacturing capacity at just 7 GW, Jakson's expansion will help bridge the gap between imports and domestic production -- a crucial step towards achieving AatmaNirbhar Bharat.

Looking ahead, JEL aims to become a 5,000 MW integrated solar wafer, cell and module manufacturer, in alignment with India's ambitious goal of achieving net zero emissions.