Onix Renewable to set up 7 GW energy plants

Onix Renewable to Invest in 7 GW Energy Plants.

Expert Analysis:

• Rs 25,000 Crore Investment: Onix plans to spend nearly Rs 25,000 crore to invest in 7 GW of renewable energy and 5 GW of solar module and cell capacities in the next three years.

• Onix Renewable’s 2030 Vision: Onix Renewable plans to invest Rs 30,000 crore by 2030, building a 10 GW renewable energy portfolio, with 80% solar and the rest wind, aligning with India's 500 GW target.

• Onix IPO Plans: Onix will raise Rs 1,000 crore through an IPO by October and secure additional funds via private investors and debt financing.

• Solar Module and Cell Investment: Onix plans to invest Rs 2,500 crore in building 10 GW of solar modules and cells over the next five years.

• Expansion in Solar Cell Plants: The company will build 2,400 MW module plants (starting May) and 1,200 MW cell plants in Gujarat (Rs 700 crore investment, production by December).

• Project Financing Delays: Onix faces a 4-6 month delay in securing project financing, leaving only 5-6 months for execution and installation.

• PM Kusum Yojana Projects: Building power plants in Gujarat and Maharashtra, targeting 3,000 MW by 2026.

• Green Hydrogen Investment: Onix plans to invest Rs 650 crore in a partnership with a German company for electrolyser manufacturing, focusing on green hydrogen and ammonia production.