Grauer & Weil India Limited (Growel) and Germany-based RENA Technologies GmbH have signed a Memorandum of Understanding (MoU) to establish a joint venture in India focused on equipment and technologies for the solar photovoltaic (PV) industry.
The proposed joint venture will develop, manufacture, assemble, sell and service wet chemical process equipment, additives and related technologies. The companies aim to commence operations in early 2027, with further details expected to be announced in the coming weeks.
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. Until the joint venture is formally established, RENA will continue to serve its solar customers through its existing operations.
India’s expanding solar manufacturing sector is expected to drive investment across the value chain, including polysilicon, ingots, wafers, solar cells and modules. The information provided by the companies cites an installed solar power generation capacity of approximately 170 GW and a national target of 280 GW by 2030.
Wet chemical processing is essential to solar wafer and cell production, as it affects cell efficiency, manufacturing yield and product reliability. Advanced wet processing equipment is currently imported primarily from Germany and China.
The joint venture aims to strengthen local manufacturing, reduce import dependence and improve supply chain resilience. It also seeks to help solar manufacturers enhance productivity and competitiveness through reliable equipment, stable processes and efficient chemical use.
Combining leading technology and local execution
RENA is globally recognized for its patented wet chemical process technologies and equipment solutions for the solar industry. Its solutions are designed to deliver high process efficiency, optimized chemical and water consumption, and reliable operation. These features are designed to support solar manufacturers in a rapidly developing market to meet India’s environmental regulations.
Growel brings an in-depth understanding of surface finishing technology, process development, and equipment engineering. With established manufacturing infrastructure and a strong track record in project execution with over 800+ installations across the globe, Growel brings extensive experience and an understanding of the Indian industrial landscape to support the joint venture’s activities.
Sebastian Kress, COO of RENA Technologies GmbH adds: “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 both RENA’s and Growel’s long-term commitment and the joint ventures ambition to provide excellent local service, leading process know-how and local presence in the booming Indian solar market.”
Umeshkumar More, Chairman of Grauer & Weil (India) Limited mentions: “The rapid development of India’s solar industry presents a significant opportunity to build specialized capabilities locally. RENA’s advanced technology and extensive experience in photovoltaics make them 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.”