Hindalco Industries plans to start solar modules manufacturing and set up a plant in the western state of Gujarat, sources said.

The company, owned by cement to fashion retail conglomerate Aditya Birla Group, is evaluating a five-year plan in the competitive sector, one of the sources said.

Hindalco has identified land in port town Mundra in Gujarat, the second person said.

In 2022, Hindalco collaborated with Greenko Group to develop solar and wind energy capacity for its aluminium smelters.

Now, its potential entry into solar module production comes at a time when several of India’s top companies are expanding into the renewable energy sector.