Reliance said in its annual report that its 10 GW solar cell and module factory in Jamnagar will start production by 2024. The fab will produce solar cells and modules based on REC’s heterojunction technology (HJT).
Reliance plans to scale the fab’s annual capacity to 20 GW by 2026.
REC is a Norway-based HJT solar panel manufacturer, acquired by Reliance.
Reliance aims to increase the HJT module efficiency to 26% by 2026 from the current 23% and further improve it to 28% through innovations like perovskite-tandem cell technology. The company also aims to extend the life of PV modules from 25 to 50 years.
Reliance has committed to investing INR 75,000 crore ($9 billion) in its new energy business. The investment will fund the setting up of five giga factories, including the integrated solar photovoltaic module factory, an advanced energy storage battery factory, an electrolyzer factory, a fuel cell factory, and a power electronics factory, thereby creating an integrated, end-to-end renewable energy ecosystem.
Reliance said it is ready to double the investment to further scale up the manufacturing ecosystem upon validating the feasibility of this initiative at scale.
Reliance aims to start production of battery packs and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024. It plans to further scale this capacity to 50 GWh annually by 2027.
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