This solar components maker will invest ₹1,740cr in Andhra Pradesh
What's the story
RJ Corp's Voltsun Labs Private Ltd is set to establish a greenfield solar cell and module manufacturing facility in Andhra Pradesh. The project, worth ₹1,743 crore, will be located in the Naidupeta multi-product special economic zone (SEZ). The announcement was made by the N Chandrababu Naidu-led state government today.
Employment opportunities
Solar plant to generate over 400 jobs
The solar cell and module manufacturing facility is expected to create employment for at least 415 people. The Andhra Pradesh government has agreed to allot 37 acres of land at concessional rates to ensure the timely start of the project. This move comes as part of a larger trend of major investments pouring into the state across various sectors.
Business expansion
RJ Corp's diversification into renewable energy
RJ Corp, a diversified conglomerate with interests in beverages, dairy, quick-service restaurants, healthcare and education, has been investing heavily in emerging sectors like renewable energy. The company is headed by industrialist Ravi Jaipuria. The new solar plant will help the Indian government localize its clean-energy supply chain and enhance energy security, while also contributing to India's ambitious renewable energy targets.
Policy impact
Andhra Pradesh's clean energy policy attracts investments
The Andhra Pradesh government is promoting clean energy through its integrated Clean Energy Policy, which provides capital subsidies, tax benefits, and infrastructure support. This has contributed to a favorable investment climate for renewable energy and related sectors, helping the state attract global investors like Kia Motors in Anantapur, PepsiCo, and Coca-Cola-linked bottling investments. Energy majors like ONGC and GAIL have also set up or announced expanded operations in the state.