Solar Manufacturing in Bihar? Group Surya Has A Plan

Bhubaneswar, Odisha-based Group Surya has announced plans to invest upto Rs 1000 crores in a solar module and cell-manufacturing plant, besides projects in renewable energy. Founded by Kamlesh Kumar Singh, the group has a diverse range of companies such as Surya International Enterprise Pvt. Ltd and Suryam International Pvt. Ltd. The company also has a retail lending NBFC, called Money Mela.

What is interesting about the firm’s latest announcement is the plan to site the potential manufacturing facilities in Sasaram, Bihar. The region, known primarily for Sher Shah’s tomb in Sasaram, is primarily agrarian. The group has signed a Memorandum of Understanding (MoU) with the Government of Bihar in this regard.

Proposed Plan In Sasaram

The new facility, located in Sasaram, will boast an impressive 1.2 GW solar capacity. The landlocked state is among the most backward in India and has struggled to attract industrial investment due to a number of other factors as well. Founder Kamlesh Kumar Singh was also born in Sasaram, which might explain the manufacturing plans as well. Odisha itself has attracted a string of solar manufacturing-linked investments in the recent past, notably from Waaree Energies. Bihar currently has zero solar manufacturing within the state.

Diversified Portfolio

The Group Surya is involved in various sectors, including Renewable Energy, Water Solutions, EPC, Green Ammonia, Carbon Capture, Green Hydrogen, and Fintech. They claim to manufacture solar panels, Lithium batteries, FRP vessels, PVC & HDPE pipes, water tanks, and GI structures, among other products.

The group has achieved a turnover, of ₹350 crores in FY23-24 and hopes to close this financial year with approx of ₹500 crores and in FY 25-26 a plan to reach ₹750 crore. Plans are also afoot to go for an IPO in the near future.

With a majority of its work in the clean water and solar domains, the group claims to have completed EPC projects worth ₹1600 crore in solar and clean water. The group is also a developer of a RESCO power plant of around 70MW and by the end of this financial year it will be around 100MW, according to a source in the firm.