Gautam Solar soars high on 5 GW expansion spree, coming up with IPO to fund 2 GW solar cell line – EQ
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₹1000 crore solar cell expansion plan will be funded through an IPO to be launched in the next 12-18 months, supporting further development and innovation.
New Delhi – Gautam Solar, a leading Indian solar manufacturer, has announced an ambitious plan to expand its solar module manufacturing capacity to 5 GW by 2025. This expansion will occur in three phases, with the first phase set for completion in November 2024, followed by the second and third phases in January and April 2025, respectively. This expansion is part of the company’s vision of solidifying India’s position as a global leader in solar off-grid technology.
In addition, the company has outlined a ₹1000 crore cell expansion plan, with further growth funded through an Initial Public Offering (IPO), anticipated in the next 12-18 months.The IPO will drive the company’s growth by setting up a 2 gigawatt (GW) solar cell manufacturing plant to bolster solar module production and achieve the 5 GW target within the stipulated time.
Sharing his views about the expansion plan, Gautam Mohanka, Managing Director of Gautam Solar, said, “As India targets achieving 500 GW of renewable energy by 2030, our expansion to 5 GW of solar module manufacturing capacity by 2025 is a vital step towards contributing to this national goal. Currently, India’s solar energy capacity stands at around 70 GW, and with this expansion, Gautam Solar will account for nearly 5% – 7% of the country’s total capacity.”
“Our ₹1000 crore cell expansion plan, which will be funded through an upcoming IPO, will further position us as a leader in solar technology. This initiative is not just about scaling up – it’s about driving innovation, creating new jobs, and offering solar products specifically designed to meet India’s unique environmental and economic needs,” Mr Mohanka added.
By strengthening its domestic production of solar components, Gautam Solar reinforces its commitment to the ‘Vocal for Local’ and ‘Make in India’ missions, supporting India’s economic growth and energy independence.
