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Grauer & Weil India Limited (Growel) and RENA Technologies GmbH (RENA) have entered into a Memorandum of Understanding (MoU) to establish a joint venture in India.
Under the joint venture, the companies aim to develop, manufacture, assemble, sell, and service wet chemical process equipment, additives, and related technologies for the solar photovoltaic (PV) industry in India. The partners aim to commence operations in early 2027.
Under the agreement, RENA will contribute its proprietary technology and international experience, while Growel will bring its manufacturing capabilities, expertise in additives, and established presence in India.
Further details will be announced in the coming weeks. Until the joint venture is formalised, RENA will continue to support its solar customers through its existing operations.
India’s renewable energy and solar manufacturing sectors are expanding, supported by rising demand and government policies. The information outlining the companies’ rationale cites an installed solar generation capacity of approximately 170 GW and a national target of 280 GW by 2030.
Continued growth is expected to drive investment across the solar manufacturing value chain, including polysilicon, ingots, wafers, cells, and modules.
Wet chemical processing is a critical part of solar cell and wafer production. These processes influence cell efficiency, manufacturing yield, and product reliability, making the associated equipment essential for solar cell manufacturers. At present, advanced wet processing equipment is imported primarily from Germany and China.
The joint venture aims to build local manufacturing capabilities to reduce import dependence and strengthen supply chain resilience. It also seeks to help solar manufacturers improve productivity and competitiveness through stable processes, reliable equipment operation, and efficient chemical use.
RENA is globally recognised for its patented wet chemical process technologies and equipment solutions for the solar industry. Its solutions are designed to deliver high process efficiency, optimise chemical and water consumption, and ensure reliable operation.
These features are intended to help solar manufacturers operating in a rapidly developing market meet India’s environmental regulations.
Growel brings extensive knowledge of surface finishing technology, process development, and equipment engineering. With established manufacturing infrastructure and a track record of more than 800 installations worldwide, Growel brings considerable project execution experience and an understanding of the Indian industrial landscape to support the joint venture’s activities.
Sebastian Kress, COO of RENA Technologies GmbH, said, “We see a great opportunity in this joint venture with such a strong and complementary partner in India. Our customers in the Indian solar industry will benefit from both RENA’s and Growel’s long-term commitment and the joint venture’s ambition to provide excellent local service, leading process know-how, and a local presence in the booming Indian solar market.”
Umeshkumar More, Chairman of Grauer & Weil (India) Limited, said, “The rapid development of India’s solar industry presents a significant opportunity to build specialised capabilities locally. RENA’s advanced technology and extensive experience in photovoltaics make it an ideal partner as the industry evolves. We look forward to combining our complementary strengths to bring global solutions closer to Indian solar manufacturers and contribute to the development of a resilient PV manufacturing ecosystem in India.”
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