Gautam Solar Pvt Ltd has announced a investment of Rs.4,000 crore for establishing a new solar cell manufacturing facility in Madhya Pradesh.
In a release, Gautam Solar said that the project will be developed on a 54-acre land parcel in Gwalior, where the company will focus on producing advanced TOPCon solar cells with a total planned capacity of 5 GW per year.
Implementation of the project has commenced with Phase 1, which will include setting up a solar cell manufacturing capacity of 2 GW. The development is expected to be completed by December 2026. After the completion of Phase 1, Gautam Solar plans to launch an IPO to raise funds for Phase 2, which will have an additional 3 GW capacity.
Looking forward, the company envisions expanding into solar wafer manufacturing to create a fully integrated solar value chain in India, the release said.
The landmark investment highlights Gautam Solar’s commitment to progressing the renewable energy sector and reducing import dependencies in solar technology in India. The project is expected to be pivotal in boosting the domestic solar manufacturing ecosystem and aiding in the clean energy goals of the country.
From wafers to modules
Commenting on the development Gautam Mohanka, Director, Gautam Solar, said, “This investment signifies a monumental achievement, not just for Gautam Solar, but for India’s renewable energy sector. With one of the largest solar cell manufacturing units in India using the latest highly advanced TOPCon technology, we envision to deepen domestic solar manufacturing context while reducing reliance on imports for the ecosystem. Our vision is integrating solar value chains in India from wafers to modules. We are supporting the nation’s transition to clean energy and the Atmanirbhar Bharat.”
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Featured photograph showing an existing manufacturing facility of Gautam Solar is for representation only