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Group Surya, headquartered in Bhubaneswar, Odisha, and led by Kamlesh Kumar Singh, has announced a significant investment initiative amounting to ?1000 crores. This funding is dedicated to setting up a state-of-the-art facility for solar module and cell manufacturing, as well as advancing other renewable energy projects. Notably involved are key subsidiaries such as Surya International Enterprise Pvt. Ltd and Suryam International Pvt. Ltd, known for their retail solar brand, Iyro Solar. Born into modest circumstances in a small village in Sasaram, which lacked basic amenities like electricity, Kamlesh Kumar Singh faced numerous challenges in his pursuit of education. He gathered a wealth of experience across various industries, including manufacturing, financial services, and project management. In 2009, with just ?1 lakh and a vision to empower his hometown, Mr. Singh founded Group Surya. His entrepreneurial journey, marked by resilience and dedication, has escalated the company to a notable net worth of ?200 crores. This deep personal connection to Sasaram has been a key motivator in selecting it as the site for this transformative project. The upcoming facility will be located in Sasaram, Bihar, a region of strategic importance as the founder’s birthplace and a potential industrial growth hub. Supported by a Memorandum of Understanding (MoU) with the Government of Bihar, this initiative aims to introduce solar manufacturing capabilities to a region previously underserved by renewable infrastructure, marking a significant step in enhancing the local economy and technological landscape. Proposed Plan in Sasaram Group Surya has inked an MoU with the Government of Bihar to establish a 1.2 GW solar module and cell manufacturing facility, marking a pivotal development in the group’s renewable energy agenda. Occupying 50 acres, the acquisition of this land will occur in phases. The facility is poised to transform Sasaram, primarily an agricultural region, into a bustling industrial locale, thus fostering job creation and economic growth. This venture will introduce the first solar manufacturing unit in Bihar. Diverse Operations and Financial Projections Group Surya engages in various business sectors, including: • Renewable Energy: Solar panels, Lithium batteries • Water Solutions: FRP vessels, PVC & HDPE pipes, water tanks • Green Technology: Green Hydrogen, Carbon Capture, Green Ammonia • EPC Services and Fintech Solutions A large portion of the group’s efforts is directed towards the solar and clean water sectors, having completed EPC projects totaling ?1600 crores. The group also manages a RESCO power plant currently generating 70MW, projected to reach 100MW by the end of this fiscal year. The company reported a turnover of ?350 crores for FY 2023-24, with expectations to reach ?500 crores in FY 2024-25. By FY 2025-26, they aim for a turnover of ?750 crores, driven by a diversified portfolio and strategic initiatives. Plans for an Initial Public Offering (IPO) further emphasize the group’s aspirations for sustained growth and sector leadership. Additional Investment in Odisha Beyond the Sasaram project, Group Surya is also expanding its renewable energy capacity with a new solar module factory in Odisha, involving an investment of approximately $9.8 million. This 500 MW facility will enhance the group’s manufacturing capabilities to better meet the growing demand for solar energy solutions. |
