Jakson Engineers To Invest Rs 2,000 Crore For Major Solar Business Expansion
The company plans to build a new 2,500-megawatt solar cell manufacturing facility in two phases.
Jakson Engineers Ltd., a division of the prominent Jakson Group, on Wednesday said it plans to invest around Rs 2,000 crore to expand its solar manufacturing operations.
The company plans to build a new 2,500-megawatt solar cell manufacturing facility in two phases. Additionally, Jakson Engineers will enhance its current solar module manufacturing facility to reach 2,000 megawatt capacity, it said in a statement.
This investment represents a significant milestone for Jakson Engineers, underscoring its commitment to addressing the increasing demand for solar energy solutions.
By substantially boosting its production capabilities, Jakson Engineers aims to better serve its expanding customer base and make a substantial contribution to the global transition towards renewable energy.
"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," said Sundeep Gupta, vice chairman and managing director of the Jakson Group.
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 the 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.
(With Input From PTI)
