Gautam Solar to invest Rs 40 billion in 5 GW solar cell plant in Madhya Pradesh

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Gautam Solar to invest Rs 40 billion in 5 GW solar cell plant in Madhya Pradesh

Gautam Solar to invest Rs 40 billion in 5 GW solar cell plant in Madhya Pradesh

Industry News
Sep 17,25

The project will cover 54 acres in Gwalior (MP) producing advanced TOPCon solar cells with a total planned capacity of 5 GW.

Gautam Solar to invest Rs 40 billion in 5 GW solar cell plant in Madhya Pradesh

New Delhi

Gautam Solar Private Limited (GSPL), a leading Indian solar module manufacturer with over 28 years of expertise, has unveiled plans for a Rs 40 billion investment to establish a state-of-the-art solar cell manufacturing facility in Madhya Pradesh. The project will cover 54 acres in Gwalior producing advanced TOPCon solar cells with a total planned capacity of 5 GW.

Implementation has commenced with Phase 1, creating a solar cell production capacity of 2 GW. This stage is expected to conclude by calendar year 2026. Following its completion, Gautam Solar intends to launch an IPO to fund Phase 2, which will add a further 3 GW capacity. Looking ahead, the company also aims to expand into solar wafer manufacturing to create a fully integrated solar value chain within India.

This landmark investment reflects Gautam Solar’s dedication to advancing the renewable energy sector and reducing import reliance on solar technologies. The initiative is anticipated to be pivotal in strengthening the domestic solar manufacturing ecosystem while advancing India’s clean energy targets.

Adding to its credentials, Gautam Solar has recently been assigned a long-term rating of CRISIL A-/Stable and a short-term rating of CRISIL A2+. These ratings underscore the company’s financial resilience, long-term stability, and bankability of solar modules.

Commenting on the development, Gautam Mohanka, Director, Gautam Solar, said, “This investment is a milestone, not just for Gautam Solar, but also for India’s renewable energy sector. With one of the nation’s largest solar cell plants using advanced TOPCon technology, we aim to strengthen India’s domestic manufacturing base and reduce import dependency. Our vision is to integrate the solar value chain in India, from wafers to modules, thereby supporting the Atmanirbhar Bharat mission and contributing to the nation’s clean energy transition.”

Through this significant initiative, Gautam Solar is reinforcing its leadership in building a self-reliant solar ecosystem and contributing to India’s sustainable growth agenda.

Gautam Solar is a leading Indian solar module manufacturer with more than 28 years of industry expertise. With multiple plants nationwide and its corporate office in New Delhi, the company is targeting a solar module manufacturing capacity of 5 GWp by FY2025-26, up from 3.2 GWp. Using advanced machinery and technologies, Gautam Solar manufactures superior, innovative panels backed by multiple registered patents and IPs, reflecting its strong commitment to quality and innovation.