Gautam Solar to invest ₹4,000 crore to set up solar cell manufacturing plant in Madhya Pradesh

Gautam Solar on Monday said it will invest Rs 4,000 crore in a 5 GW solar cell manufacturing plant in Madhya Pradesh.

The project will be developed on 54 acres of land in Gwalior, where the company will focus on producing advanced TOPCon solar cells with a total planned capacity of 5 GW, a company statement said.

The company has announced a significant investment of ₹4,000 crore for establishing a solar cell manufacturing facility in Madhya Pradesh, the statement said.

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 calendar year 2026. After the successful 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.

Gautam Mohanka, Director, Gautam Solar, said, "With one of the largest solar cell manufacturing units in India using the latest highly advanced TOPCon technology, we envision to deepen the 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." Gautam Solar has multiple manufacturing units across the country. It is targeting a solar module manufacturing capacity of 5 GWp by FY2025-26, up from its current capacity of 3.2 GWp.