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Cerebra signed NDA with Hyundai Corporation, Korea to explore opportunity of PV Solar module recycling in India

Posted On : 2023-03-22 12:01:02( TIMEZONE : IST )

Cerebra signed NDA with Hyundai Corporation, Korea to explore opportunity of PV Solar module recycling in India

Government of India has increased focus on circular economy, where it means to move away from linear economic models of taking materials from Earth (mining), making products out of them and throwing them as waste. Circular economy is about relying on recovering the materials from the waste and reuse them in producing the new products, thus referred as urban mining.

Solar Photovoltaic (PV) modules are identified as one of the 10 sectors by Government India which is ready for circular economy. Solar PV modules and cells recycling has been added to the new e waste management rules which will be implemented from April 01. 2023. India will perhaps be the second after the European Union to come out with a national policy on solar waste management.

Recycling and reclaiming the materials will enable re-produce new modules and reduce carbon footprint thus justifying circularity in solar energy. Government of India is envisaging that the solar module production by 2025-26 touches 90GW and 280 GW by year 2030 and have announced PLI scheme of 4500 crores in 2021 and 19250 crores in 2022 encouraging Indian companies to start manufacturing solar modules in India as per Atmanirbhar program.

With the waste generated from the new solar PV module manufacturing and the old solar farms which are nearing the end of life, Cerebra foresees a great opportunity in solar PV module recycling. To pursue this opportunity in recycling of solar PV modules, Cerebra has signed a NDA with Hyundai Corporation, Korea who has taken a lead in this space. Recycling the solar panels feasibly is the key factor and Cerebra is relying on Hyundai Corporation to contribute in this through their global reach.

Shares of Cerebra Integrated Technologies Limited was last trading in BSE at Rs. 9.23 as compared to the previous close of Rs. 9.71. The total number of shares traded during the day was 166160 in over 265 trades.

The stock hit an intraday high of Rs. 9.99 and intraday low of 9.23. The net turnover during the day was Rs. 1555225.00.

Source : Equity Bulls


CerebraIntegratedTechnologies INE345B01019 Recycling SolarPVModules NDA HyundaiCorporation