Group Surya, a Bhubaneswar, Odisha-based conglomerate, is making waves with its latest announcement to invest up to Rs 1,000 crore in a state-of-the-art solar module and cell manufacturing plant. This investment is part of their broader focus on renewable energy projects. Founded by Kamlesh Kumar Singh, the group operates multiple companies, including Surya International Enterprise Pvt. Ltd and Suryam International Pvt. Ltd. Additionally, they run a retail lending NBFC called Money Mela.
What sets this announcement apart is the decision to establish the solar manufacturing facility in Sasaram, Bihar—a region primarily known for its agricultural roots and historical significance as the site of Sher Shah Suri’s tomb. The group’s move marks a significant step toward industrial development in a state that has long struggled to attract large-scale investments.
The Sasaram Solar Project: A Game-Changer for Bihar
Group Surya’s proposed manufacturing facility in Sasaram will have an impressive capacity of 1.2 GW. This development is notable, as Bihar currently has no existing solar manufacturing infrastructure. The state’s industrial growth has been hindered by several challenges, including limited resources and infrastructure. However, this initiative by Group Surya could pave the way for a transformative shift in the region’s economic landscape.
The decision to set up operations in Sasaram is deeply personal for founder Kamlesh Kumar Singh, who hails from the area. This connection to his hometown likely influenced the choice of location for the ambitious project.
Diversified Business Portfolio
Group Surya operates across various sectors, including:
- Renewable Energy
- Water Solutions
- Engineering, Procurement, and Construction (EPC)
- Green Ammonia
- Carbon Capture
- Green Hydrogen
- Fintech Services
The company’s product portfolio includes solar panels, lithium batteries, fiber-reinforced plastic (FRP) vessels, PVC and HDPE pipes, water tanks, and galvanized iron (GI) structures. Their diverse range of offerings showcases their commitment to sustainability and innovation.
Financial Growth and Future Plans
Group Surya has seen significant financial growth, with a turnover of ₹350 crore in the fiscal year 2023-24. The company aims to achieve ₹500 crore by the end of the current financial year and has set a target of ₹750 crore for FY 2025-26. These ambitious goals are supported by their plans to launch an initial public offering (IPO) in the near future.
The group has completed EPC projects worth ₹1,600 crore in the solar and clean water sectors. They are also the developers of a RESCO (Renewable Energy Service Company) power plant with a current capacity of 70 MW, which is expected to increase to 100 MW by the end of the financial year.
Impact on Bihar’s Economy and Renewable Sector
Bihar’s economy stands to benefit significantly from Group Surya’s investment. The solar manufacturing facility in Sasaram will create job opportunities and contribute to the state’s industrial development. Additionally, the project aligns with India’s national goals of increasing renewable energy capacity to combat climate change.
Given Bihar’s current status as a landlocked and industrially underdeveloped state, this project has the potential to establish the region as a new hub for solar manufacturing in India. With Group Surya’s focus on sustainability and innovation, their investment could serve as a model for other companies looking to invest in renewable energy in Bihar.
Conclusion
Group Surya’s decision to set up a solar manufacturing facility in Sasaram, Bihar, marks a significant milestone for both the company and the state. With a diverse portfolio spanning multiple sectors and a commitment to sustainable growth, the group’s investment is set to drive industrial and economic development in the region. By fostering local job creation and boosting renewable energy capacity, this initiative aligns with India’s broader goals for a greener, more sustainable future.
As Bihar takes its first steps toward becoming a player in the renewable energy sector, Group Surya’s project could be the catalyst needed to unlock the state’s industrial potential and transform its economic landscape for the better.
