Goldi Solar looks to add 5 GW module, 16 GW cell capacity by FY28 to meet domestic demand

New Delhi, Jan 4 (PTI) Goldi Solar is looking to add around 5 gigawatt of solar module and 16 gigawatt of cell manufacturing capacity in the country over the next two financial years to support the domestic demand, industry sources said.

The Gujarat-based renewable energy player presently owns and operates three solar module manufacturing facilities near Surat, having a combined capacity of 15.2 gigawatt (GW).

According to the industry sources, Goldi Solar is looking to scale up its module-making capacity to over 20 GW. The company is learned to be working on a draft plan to add 5 GW of module capacity. It already has 15.2 GW of capacity approved under the government's ALMM framework.

The Approved List of Models and Manufacturers (ALMM) is an initiative of the Ministry of New and Renewable Energy (MNRE) that supports India's 'Make in India' vision by promoting local manufacturing, reducing import dependency, and generating new employment.

It also aligns with India's renewable energy targets by ensuring the quality of domestically made solar modules.

The company is also in the process of setting up a 1.2-GW cell capacity to strengthen backward integration. It further looks to add another 16 GW of cell manufacturing capacity by FY28 for manufacturing of more efficient bi-facial Topcorn N-Type solar modules.

The move is aimed to support the increasing domestic demand for solar installations, pushed by government-led initiatives including the PM Surya Ghar: Muft Bijli Yojana.

A query sent to Goldi Solar seeking a response on the timeline and investments related to the project remained unanswered.

As per industry estimates, setting up 1 MW of solar module capacity requires an investment of around Rs 5-7 crore. PTI ABI HVA