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Gautam Solar to invest Rs 10 billion in 2 GW solar cell manufacturing facility
Industry News- Sep 18,24
Gautam Solar has already acquired a 60-acre land parcel in Bhiwani, Haryana, for the purpose of manufacturing solar panels and their raw materials.
Gautam Solar, a 27+ years experienced solar manufacturer, is preparing to launch a significant venture to establish a 2 GW solar cell manufacturing plant in the first phase. With an estimated investment of Rs 10 billion for the 2 GW solar cell facility, the company wants to cater to the growing demand for renewable energy in India. Gautam Solar is aligning itself with the Government of India’s guidelines on including solar cells in the Approved List of Models & Manufacturers (ALMM) to provide a push to domestic manufacturing while reducing the dependency on imports.
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.
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’s still open to considering other locations based on the overall ecosystem. 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.
Gautam Mohanka, CEO, 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."
Gautam Solar’s expansion into solar cell manufacturing will significantly contribute to India's targets to achieve a renewable energy capacity of 500 GW by 2030 and help secure its position as a global solar energy hub. As the plant begins production in the near future, the company is well-poised to address the growing demand for DCR-compliant panels, further establishing itself as a leader in the renewable energy sector.
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