A New Force Enters India’s Solar Industry

Grauer & Weil India Limited (Growel) and RENA Technologies GmbH (RENA) have entered into a Memorandum of Understanding (MOU) to establish a strategic joint venture in India. The joint venture will focus on the development, manufacturing, assembly, sale, and servicing of wet chemical process equipment, additives, and related technologies for the photovoltaics (PV) industry. 

Under the agreement, RENA contributes its proprietary technology and international experience, while Growel adds its manufacturing capabilities, additives expertise, and established presence in India. The partners aim to start operations in early 2027. Further details will be announced in the coming weeks. Until the joint venture is formalized, RENA will continue to seamlessly support all solar customers through its existing operations.

Supporting the growth of PV manufacturing in India

India’s renewable energy and solar manufacturing sectors are expanding rapidly, supported by rising demand and government policy. The information underlying the parties’ strategic rationale cites an installed solar power generation capacity of approximately 170 GW and a national target of 280 GW by 2030. Continued growth is expected to drive investment across the solar manufacturing value chain, including polysilicon, ingots, wafers, cells and modules.

Wet chemical processing is a critical part of solar cell and wafer production. These processes influence cell efficiency, manufacturing yield, and product reliability, making the associated equipment essential to solar cell manufacturers. At present, advanced wet processing equipment is imported primarily from Germany and China. The joint venture aims to build local manufacturing capabilities that reduce import dependence and strengthen supply chain resilience, while also helping solar manufacturers improve productivity and competitiveness through stable processes, reliable equipment operation 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.”

About Grauer and Weil India Limited 

Grauer & Weil is a diversified Indian industrial company with a global presence and expertise in delivering turnkey solutions for surface finishing. Its integrated offerings span specialty chemicals, industrial paints, industrial lubricants, and process equipment, supported by state-of-the-art manufacturing facilities, deep process engineering knowledge, and strong R&D capabilities. Growel serves a diverse range of industries, including automotive, electronics, aerospace, energy and other advanced manufacturing sectors.