Alpex Solar to Set-up Rs. 642 Cr. Solar Cell Manufacturing Plant in Mathura

Alpex Solar Limited will be investing Rs. 642 crore for setting up a solar cell manufacturing plant in Kosi Kotwan in Mathura, Uttar Pradesh. This upcoming plant will have an annual manufacturing capacity of 1.6 GW of solar cells.

Alpex Solar’s Mathura manufacturing facility will be developed in three phases. The first phase with 500 MW annual manufacturing capacity is expected to begin operations by October 2025. Subsequent phases are slated for completion by April 2026 and September 2026, respectively. The company will produce MonoPERC and n-Type TopCON solar cells. This greenfield project will be financed through a combination of internal accruals, equity, and debt.

Commenting on this development, Mr. Ashwani Sehgal, Managing Director of Alpex Solar, said “At Alpex Solar, we have built a strong foundation in the first 18 years of our journey, and our foray into solar cells will help us fortify our integrated solutions vision, which presently comprises solar PV modules, Aluminium frames, EPC services and IPP [Independent Power Producer] expertise”.