Indian solar brand Goldi Solar pledges Rs 5,000 cr investments in renewable space

27 September, 2022 | Pranay Lad

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A multinational supplier of solar energy solutions, Goldi Solar, has declared its intention to invest more than Rs 5,000 crore as part of its ambitions for company development, primarily in the man...

A multinational supplier of solar energy solutions, Goldi Solar, has declared its intention to invest more than Rs 5,000 crore as part of its ambitions for company development, primarily in the manufacture of modules, cells, and raw materials.

It intends to start production at its Gujarati cell manufacturing facility.

Goldi Solar is one of the top solar brands in India. The business makes panels, offers EPC services, and generates power on its own. It was established in 2011 and has its headquarters in Surat, Gujarat. It provides services to several worldwide businesses in more than 20 countries.

It has two 2.5 GW facilities in Gujarat, one each in Pipodara and Navsari. It will thereafter increase to 5 GW of capacity.

Additionally, Goldi Solar intends to hire over 4,500 workers across various tasks, bringing its total workforce—including current employees—up to over 5,500.

According to Captain Ishver Dholakiya, the managing director of Goldi Solar, “to create employment at the grassroots level, Goldi Solar wants to engage 25% of the workers from the local tribal districts abutting its proposed manufacturing plant.”

A skill development centre that Goldi Solar hopes to construct in Navsari in partnership with the NSDC (National Skill Development Council) would provide three-month certification programmes to prepare new hires for a career in Gujarat’s renewable energy sector.

The company’s intentions to introduce a new product line and raise module production capacity, according to the MD, are intended to boost the supply of clean energy and encourage its widespread replacement of fossil fuels. He called renewables the energy sources of the future.

We as Goldi Solar are dedicated to the Prime Minister’s goal of Atmanirbhar Bharat and strive to make India self-sufficient in renewable energy, said Dholakiya.

According to a joint report from the International Renewable Energy Agency and the International Labour Organization titled “Renewable Energy and Jobs — Annual Review 2022,” India’s goal of 500 GW of non-fossil fuel energy sources by 2030 could result in the creation of 3.4 million new job opportunities (of short or long duration), or roughly 1 million direct full-time equivalents.

According to recent joint research, India produced 863,000 green employment in 2020–21, of which 217,000 were in solar photovoltaic vertical and 414,000 were in hydropower.

More than a third of all jobs in renewable energy will be in solar photovoltaic (PV), the industry with the highest growth.

According to the joint research, India installed 10.3 GW of solar PV capacity in 2021, up from 4.2 GW in 2020.

With 132.8 GW of solar PV capacity installed globally in 2021, up from 125.6 GW in 2020, the solar vertical achieved a new milestone, with many nations, notably India, achieving new yearly records.

For the record, Prime Minister Narendra Modi made an ambitious five-part “Panchamrit” pledge at the COP26 summit in Glasgow in late 2021, including reaching 500 GW of non-fossil electricity capacity, generating half of all energy needs from renewable sources, and reducing emissions by 1 billion tonnes by 2030.

India also wants to cut its GDP’s emissions intensity by 45%. India finally pledges to have zero emissions by 2070.

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