RSOLEC Announces Solar Venture with $300 Mn Planned Investment

RSOLEC's Solar Venture

Renaissance Solar and Electronic Materials (RSOLEC), a solar enterprise with operations in India and the USA, today announced its official launch and establishment, accompanied by a significant planned investment of about $300 million. With global reach and expertise in differentiated solar and electronic materials manufacturing, RSOLEC claims it is set to revolutionize the industry with a strategic focus on solar crystal growth and wafering.

The firm’s primary focus for the next five years will be on crystal growth and wafering in India, contributing significantly to the country’s strategic solar manufacturing capacity. Over the long term, RSOLEC intends to expand its manufacturing over the entire solar value chain.

Investment & Job Creation

RSOLEC claims that it is committed to pioneering solar manufacturing with the lowest capital intensity to ensure cost-competitive production on a global scale. The firm’s roadmap anticipates achieving a capital intensity below $35 million per GW.

Furthermore, RSOLEC is aiming to generate over 1,000 skilled jobs in the solar sector within the next three years, with more than 3,000 skilled job opportunities envisioned for the long term.

Founded and supported by technocrats from five different countries across three continents, RSOLEC integrates continuous improvement on existing platforms with cutting-edge technologies. Based in Delaware, USA, RSOLEC operates through its Indian subsidiary located within the dynamic ecosystem of IIT Madras Research Park.

Dr. Milind Kulkarni, Chairman and CEO of RSOLEC, articulated, “RSOLEC is poised to contribute to the solar energy revolution and initiate the cultural transformation required for success in the dynamic solar manufacturing sector. Our differentiation lies in our technology-driven, low-risk innovations, positioning RSOLEC at the forefront of the solar industry.”

Padmashree Professor Ashok Jhunjhunwala, President of IITM Research Park, voiced his endorsement, stating, “It is strategically imperative for India to develop the entire solar ecosystem, encompassing solar manufacturing. RSOLEC brings the requisite expertise for technology-driven solar manufacturing, and we are pleased to support this critically significant endeavour at the IIT Madras Research Park.”

The facility will utilize the state-of-the-art Recharge Czochralski (RCZ) process, which can be retrofitted to the emerging Continuous Czochralski (CCZ) process for crystal growth. Wafer production is based on the cutting-edge DCW platform, capable of producing thin wafers measuring below 100 micrometers in thickness.

Technologies 

RSOLEC’s technological advancement on existing platforms enables an 80% improvement in productivity and a 40% reduction in production costs over a short timeframe.

The primary product is high-quality silicon wafers with low oxygen content, high lifetime, and controlled resistivity, compatible with all solar cell technologies, including TOPCon, PERC, HJT, and Tandem structures.

RSOLEC aims to achieve crystals with uniform resistivity, potentially increasing cell efficiency by 0.15%, a milestone not yet attained in the solar manufacturing industry. For select customers requiring very low oxygen content, the magnetic Czochralski (MCZ) platform will be employed. The facility will have the capability to produce wafers in various sizes, including M10, G12, and G16.

Long-Term Goals

Initial production capacity is set at 5 GW, with plans for expansion to exceed 20 GW in the long term. Commissioning of the facility is planned in late 2025 and production in 2026. RSOLEC is currently evaluating several short-listed production sites offering attractive opportunities.