Fujiyama Power Systems Limited, one of India’s leading rooftop solar solutions providers, has announced that its Board has approved a proposal to set up a 1.2 GW TopCon solar cell manufacturing facility at its Ratlam plant in Madhya Pradesh.

The company currently operates a 1 GW Mono PERC solar cell manufacturing facility at its Dadri plant in Uttar Pradesh. With the addition of 1.2 GW TopCon capacity at Ratlam, Fujiyama will significantly strengthen its integrated manufacturing capabilities across the solar value chain. Commercial operations at the Ratlam TopCon facility are expected to commence in Q1 FY2028. The project involves an estimated investment of Rs 3.5 billion, to be funded through a combination of debt and internal accruals.

The TopCon solar cell project is part of the company’s backward integration and technology upgradation strategy. The expansion is aimed at reducing cost volatility, ensuring timely availability of DCR-compliant solar cells, improving gross margins and strengthening the company’s competitive position in the B2C rooftop solar market.

The implementation of ALMM-II for Solar PV Cells from June 1, 2026, is expected to accelerate domestic demand for DCR solar panels and domestically manufactured solar cells, supporting the strategic rationale for the proposed expansion.

Pawan Kumar Garg, Chairman and Joint Managing Director, Fujiyama Power Systems, said, “The approval of our 1.2 GW TopCon solar cell manufacturing facility at Ratlam marks an important milestone in Fujiyama’s growth journey. This expansion strengthens our backward integration, enhances cost control and ensures consistent availability of DCR-compliant solar cells. With our recent inclusion in the MNRE’s ALMM-II list for solar cells, we are well positioned to cater to domestic demand of DCR Solar Panels and expand our presence in the on-grid rooftop solar market, mainly under Pradhan Mantri Surya Ghar Muft Bijli Yojna. The Ratlam facility will significantly strengthen our competitive positioning and support our vision of solarising Indian households through reliable, high-quality and indigenously manufactured solar solutions.”