Eastman Powers Ahead: Bold Solar Expansion and Green Innovation Drive Future Growth – EQ
In Short : Eastman Auto & Power plans to install 34 GW solar capacity by FY28, with solar revenues expected to reach ₹3,000 crore this year. The company will invest ₹700–1,000 crore over three years, focusing on rooftop solar and lithium-ion batteries. With global operations and growing innovation in energy storage, Eastman is driving India’s clean energy transition.
In Detail : Eastman Auto & Power Ltd. is setting bold targets in the renewable energy sector. The company plans to install 34 GW of solar power capacity by FY28, a significant leap that aligns with India’s broader green energy goals. This move reflects Eastman’s ambition to become a major player in the solar energy space.
In the current financial year alone, Eastman expects to generate up to ₹3,000 crore in solar business revenue. This is part of a broader growth strategy that has already seen its total revenue rise from ₹3,600 crore in FY24 to ₹4,350 crore in FY25. By FY26, the company aims to reach ₹6,000 to ₹7,000 crore in revenue, with 40% coming from solar.
To support its expansion, the company has planned capital expenditures of ₹700 crore to ₹1,000 crore over the next three years. These investments will primarily focus on rooftop solar solutions, a segment that offers great potential in both urban and rural markets. This will also strengthen its hold in the distributed renewable energy space.
Eastman is scaling up its manufacturing capabilities significantly. By June 2025, the company aims to have a total production capacity of 25 GW, including 4 GW dedicated to lithium-ion battery production. These batteries are expected to support both solar energy storage and e-mobility applications.
Alongside solar, Eastman is also developing innovative energy storage solutions and expanding its last-mile electric mobility offerings. The company is actively exploring strategic partnerships to enhance its technological edge and operational efficiency across the renewable energy value chain.
With operations in over 50 countries and a workforce of more than 3,600 employees, Eastman Auto & Power is well-positioned to contribute meaningfully to India’s clean energy future. Its integrated approach to solar energy, storage, and mobility solutions signals a strong commitment to sustainability and innovation.
