Gautam Solar to Invest Rs. 4,000 Cr. in 5 GW Solar Cell Plant
Gautam Solar Private Limited will be investing a total of Rs. 4,000 crore to establish a 5 GW solar cell manufacturing plant in Gwalior, Madhya Pradesh. Spread across 54 acres, the project will mark the company’s entry into solar cell manufacturing.
Gwalior Plant to be Developed in 2 Phases
Gautam Solar’s photovoltaic (PV) cell manufacturing plant will be developed in two phases. The first phase is expected to be completed by January 2026 with an annual production capacity of 2 GW of n-type TOPCon solar cells. The second phase will add another 3 GW of annual PV cell manufacturing capacity and will be financed through the company’s Initial Public Offering (IPO), which is expected to come out by April 2026.
Mr. Gautam Mohanka, Managing Director of the company, said, “We envision to deepen domestic solar manufacturing context while reducing reliance on imports for the ecosystem. Our vision is integrating solar value in India from wafers to modules”.
Recent Expansion at Bhiwani
The Gwalior plant is not the company’s only expansion in solar manufacturing. Gautam Solar has also recently developed a solar module factory in Bhiwani, Haryana. This facility is capable of manufacturing TOPCon and Mono PERC PV modules.
Currently, Gautam Solar has a solar module manufacturing capacity of 3.2 GW, which it targets to increase to 5 GW before the end of FY26.
Bridging India’s Manufacturing Gap
India’s solar power equipment manufacturing industry is currently facing a sharp imbalance between solar cell and module manufacturing capacities. While the country has over 100 GW of module manufacturing capability, annual solar cell production stands at just 25 GW. Therefore, there is a pressing need to bridge this gap, which can be done only if more companies pursue solar cell manufacturing.
By entering the solar cell manufacturing space, Gautam Solar is taking a much-needed step towards backward integration. The company has also planned to enter solar wafer manufacturing, with the broader goal of establishing a fully integrated solar value chain within India. However as of now, the company has not disclosed the specifics of starting PV wafer manufacturing.
About Gautam Solar: Gautam Solar, headquartered in New Delhi, is one of the top solar module manufacturers in India. The company has manufacturing plants in Haridwar and Bhiwani.
