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

 Multi-national solar energy solutions provider Goldi Solar has announced it plans to infuse over Rs 5,000 crore as a part of its business expansion plans, particularly in modules, cells and raw material manufacturing capabilities.

ANI | New Delhi |

 Multi-national solar energy solutions provider Goldi Solar has announced it plans to infuse over Rs 5,000 crore as a part of its business expansion plans, particularly in modules, cells and raw material manufacturing capabilities.

It plans to commence production at its cell manufacturing unit in Gujarat. Goldi Solar is one of the leading Indian solar brands. The company manufactures panels, provides EPC services, and is an independent power producer.

Founded in 2011, it is a multinational company headquartered in Gujarat’s Surat, catering to several international brands in over 20 countries.

It has two facilities of 2.5 GW at Pipodara and Navsari in Gujarat. Subsequently, it will expand its capacity to 5 GW.

Goldi Solar also plans to recruit over 4,500 people across various functions, increasing its workforce to over 5,500, including the existing workforce.

“To create employment at the grassroots level, Goldi Solar plans to hire 25 per cent of the workforce from the local tribal regions adjoining its proposed manufacturing facility,” said Captain Ishver Dholakiya – Managing Director of Goldi Solar.

Goldi Solar will conduct three-month certification programmes at a skill development centre that it plans to open in collaboration with the NSDC (National Skill Development Council) in Navsari to train new recruits for a career in renewables in Gujarat.

Terming renewables as the future of energy, the MD said the firm’s plans of launching a new product line and expanding capacity for module manufacturing are designed to increase the supply of clean energy and motivate its large-scale replacement of fossil fuel.

“At Goldi Solar, we have committed to the Prime Minister’s vision of Atmanirbhar Bharat and aspire to create an India self-reliant in renewable energy,” Dholakiya added.

In India, the country’s goal toward 500 GW of non-fossil-fuel energy sources by 2030 could create 3.4 million new job opportunities (of short or long duration), or about 1 million direct full-time equivalents, a joint report published by International Renewable Energy Agency and the International Labour Organization titled ‘Renewable Energy and Jobs — Annual Review 2022’ said.

In 2020-21, India created 863,000 green jobs, of which 217,000 were in solar photovoltaic vertical and 414,000 in hydropower, the joint report said recently. Jobs in solar photovoltaic (PV) in 2021, the fastest-growing sector, accounted for more than a third of the total renewable energy workforce.

India added 10.3 GW of solar PV capacity in 2021, up from 4.2 GW installed in 2020, the joint report said.

Worldwide, the solar vertical scored a new record in 2021, producing 132.8 GW of solar PV capacity installations, up from 125.6 GW in 2020, with many countries, including India, setting new annual records.

For the record, at the COP26 summit at Glasgow in late 2021, Prime Minister Narendra Modi committed to an ambitious five-part “Panchamrit” pledge, including reaching 500 GW of non-fossil electricity capacity, to generate half of all energy requirements from renewables, to reduce emissions by 1 billion tons by 2030.

India also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.