Gautam Solar to enter solar cell manufacturing, plans Rs.1,000-crore capex
- September 19, 2024
Gautam Solar has announced its plans of setting up a solar cell manufacturing facility with annual capacity of 2 GW in the first phase.
With an estimated investment of Rs.1,000 crore for the 2-GW solar cell facility, the company wants to cater to the growing demand for renewable energy in India, a company release said.
Gautam Solar has already acquired a 60-acre land parcel in Bhiwani, Haryana, for the purpose of manufacturing solar panels and their raw materials. However, it is still open to considering other locations based on the overall ecosystem, a release by Gautam Solar said.
By vertically integrating its operations, the company will further expand its capabilities, complementing its already operational solar module manufacturing plant in Haridwar and the upcoming module manufacturing expansion in Bhiwani.
This new solar cell facility will enable Gautam Solar to meet the rising demand for DCR (domestic content requirement) panels, crucial for government-backed subsidy projects requiring locally manufactured components. The company aims to enhance its competitiveness by offering high-quality, DCR-compliant solar cells, positioning itself as a strong alternative to Chinese manufacturers, who currently dominate the Indian solar cell supply chain.
Supporting India’s energy transition
Gautam Mohanka, CEO of Gautam Solar, remarked, “Our forthcoming 2 GW solar cell manufacturing plant is aligning with MNRE’s guidelines on promoting indigenous manufacturing of solar cells. We have 27+ years of experience in the solar industry, and we are further strengthening our manufacturing by integrating solar cell production into our existing operations. We are committed to delivering cutting-edge, reliable solar solutions that empower India’s transition to a sustainable future.”
Also read: Gautam Solar launches N-type TOPCon solar modules
Featured photograph shows preliminary work underway at Gautam Solar’s newly-acquired land plot at Bhiwani, Haryana.
