Mundra Solar PV, the solar photovoltaic manufacturing arm of diversified Adani Group, looks to become a USD 1 billion company over the next 2-3 years, a top company official said.
The company is also hoping to scale up its manufacturing capacity of modules and cells from the current 1,200 MW to around 3,000 MW in the next 2-3 years.
According to PTI reports the company’s chief executive Ramesh Nair said that the company has already actions are on the ground as the government has given the go ahead for pass through of any hike in case of the safeguard duty and the manufacturing policy is in its final stages.
He said that recently, the government announced that it will amend bidding rules to allow pass through of duty hike on solar. This has come as a major relief for developers as well. He further added that they hope the company will be able to become a USD 1 billion company in the next 2-3 years.
Currently, Mundra Solar has a manufacturing facility with a capacity of 1,200 MW in the Special Economic Zone at Mundra in Gujarat.