Group Surya Signs MoU with Bihar Government for INR 1000 Crore Solar Manufacturing Facility
Group Surya has announced an INR 1,000 crore investment to establish a 1.2 GW solar module and cell manufacturing facility in Sasaram, Bihar. With this investment, the group is striving to change perceptions among investors and entrepreneurs, showing that high-tech industries can thrive in Bihar, said its founder and MD Kamlesh Kumar Singh.
January 07, 2025. By Mrinmoy Dey
The group has signed an MoU with the Government of Bihar for establishing a 1.2 GW solar module and cell manufacturing plant. The facility will span 50 acres, with land acquired in phases. This plant will transform Sasaram, primarily an agricultural region, into a hub for industrial activity, creating jobs and stimulating economic growth, asserted the group in a statement further adding that this will be its first solar manufacturing unit in Bihar.
The group further shared that Sasaram in Bihar is a site of strategic importance as the birthplace of the founder Kamlesh Kumar Singh and a region with significant potential for industrial development.
“Group Surya is striving to change perceptions among investors and entrepreneurs, showing that high-tech industries can thrive in Bihar—a state full of talented, hardworking people. Both the government and the people support these industries. Bihar, known for its wisdom, gave the world Chanakya's Arthashastra and the teachings of Buddha and Mahavir. Home to ancient universities like Nalanda and Vikramshila, it was once a global learning hub. Inspired by this legacy, I aim to contribute to Bihar’s resurgence by establishing a cutting-edge solar cell factory, fostering progress and glory,” remarked Singh.
Additionally, Group Surya is expanding its renewable energy footprint with a new solar module factory in Odisha, involving an investment of approximately USD 9.8 million. This 500 MW facility will enhance the group’s manufacturing capabilities and cater to the growing demand for solar energy solutions, the company informed.
Group Surya operates across multiple verticals, including renewable energy (solar panels, lithium batteries), water solutions (FRP vessels, PVC and HDPE pipes, water tanks), green technology, green hydrogen, carbon capture, green ammonia, EPC services and fintech solutions. Key subsidiaries under the group, such as Surya International Enterprise Pvt. Ltd. and Suryam International Pvt. Ltd., are also known for their retail solar brand, Iyro Solar.
With a majority of its work in the clean water and solar domains, the group has completed EPC projects worth INR 1600 crore in solar and clean water. The group is also a developer of a RESCO power plant of around 70 MW and by the end of this financial year, it will be around 100 MW.
The group achieved a turnover of INR 350 crore in FY 2023-24, with projections for FY 2024-25 reaching approximately INR 500 crore. By FY 2025-26, the target turnover is INR 750 crore, fuelled by a diversified portfolio and innovative strategies. Further, the group is planning to raise funds from the market through an initial public offering (IPO).
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