Gautam Solar Pvt Ltd has announced an investment of INR 40 billion to establish a solar cell manufacturing facility in Madhya Pradesh. The project will be set up on a 54-acre land parcel in Gwalior with a planned production capacity of 5 GW of tunnel oxide passivated contact (TOPCon) solar cells annually.
The project will be developed in phases. Phase 1, currently underway, will add 2 GW of solar cell manufacturing capacity and is scheduled for completion by December 2026. Following this, the company intends to launch an initial public offering (IPO) to fund Phase 2, which will add an additional 3 GW of capacity.
Gautam Solar also plans to expand into solar wafer manufacturing as part of its strategy to develop an integrated solar value chain.
“This investment signifies a monumental achievement, not just for Gautam Solar, but for India’s renewable energy sector. With one of the largest solar cell manufacturing units in India using the latest highly advanced TOPCon technology, we envision to deepen 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,” said Gautam Mohanka, Director of Gautam Solar.
Founded in 1998, Gautam Solar is engaged in the manufacturing of solar modules and related renewable energy technologies. The company operates multiple production facilities in India and supplies to both domestic and international markets.