Grew Energy has signed a solar module supply agreement for BluPine Energy’s upcoming project in Banaskantha, Gujarat. BluPine Energy is a renewable energy services company established in India by UK investor Actis. With a $800 million investment from Actis’ Energy Fund 5, BluPine Energy aims to develop 4+ GW renewable energy portfolio, exclusively in India.
Grew is a renewable energy venture of Chiripal Group, one of the largest vertically integrated enterprises in India. The core business divisions of the Group include textiles, education, petrochemicals, infrastructure, packaging, poly films apart from renewable energy.
Grew has set up a fully functioning 1.2 GW solar module factory in Jaipur, Rajasthan, with another 1.6 GW factory to be fully operational by 2025 in the same location. Additionally, it is building a fully backward integrated solar module manufacturing unit in Jammu & Kashmir with a commitment to invest INR 4,500 crore ($538.85 million). Upon completion, the facility will have the capacity to produce 3.2 GW of high-efficiency modules and 2.8 GW of ingots, wafers and cells per year.
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