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

Solar module manufacturer, Gautam Solar Private Limited (GSPL), will set up a 5GW solar cell manufacturing facility in Madhya Pradesh for Rs 4000 crore.

The project will be developed on 54 acres of land in Gwalior, where the company will focus on producing advanced TOPCon solar cells, the company 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.

"With one of the largest solar cell manufacturing units in India using the latest highly advanced TOPCon technology, we envision deepening the domestic solar manufacturing context while reducing reliance on imports for the ecosystem," said Gautam Mohanka, Director, Gautam Solar, adding that the company's vision is to integrate solar value chains in India from wafers to modules.