Alpex Solar to invest Rs 6.42 billion in 1.6 GW solar cell production capacity
POWER & RENEWABLE ENERGY

Alpex Solar to invest Rs 6.42 billion in 1.6 GW solar cell production capacity

Alpex Solar announced its entry into solar cell manufacturing, with plans to establish a 1.6-gigawatt (GW) capacity plant in Kosi Kotwan, Mathura, at an estimated project cost of Rs 6.42 billion.

As stated in the official press release, the expansion will occur in three phases, with the first 500 MW expected to be operational by October 2025. The completion of the remaining two phases is scheduled for April 2026 and September 2026, respectively.

Ashwani Sehgal, the managing director of Alpex Solar, indicated that this initiative is the largest since the company's inception and aims to elevate their product offerings. He mentioned that the venture into solar cells would strengthen their vision for integrated solutions, which currently includes solar PV modules, aluminum frames, EPC services, and IPP expertise.

The Greater Noida-based company, listed on NSE Emerge, noted that the capital requirements would be fulfilled through additional facilities from banks and financial institutions, internal accruals, and equity infusion. Earlier this year, the company acquired a seven-acre land parcel from the Uttar Pradesh Industrial Development Authority to construct its second manufacturing unit. They stated that the solar cell plant would be built on the same site, along with a recently announced plan to establish a greenfield facility for 1.2 GW of solar PV modules.

Additionally, the company revealed its goal to achieve a total capacity of 1.2 GW in solar modules by Q3FY25. It is also doubling its solar PV module capacity to 2.4 GW and increasing its aluminum frame production capacity.

Alpex Solar announced its entry into solar cell manufacturing, with plans to establish a 1.6-gigawatt (GW) capacity plant in Kosi Kotwan, Mathura, at an estimated project cost of Rs 6.42 billion. As stated in the official press release, the expansion will occur in three phases, with the first 500 MW expected to be operational by October 2025. The completion of the remaining two phases is scheduled for April 2026 and September 2026, respectively. Ashwani Sehgal, the managing director of Alpex Solar, indicated that this initiative is the largest since the company's inception and aims to elevate their product offerings. He mentioned that the venture into solar cells would strengthen their vision for integrated solutions, which currently includes solar PV modules, aluminum frames, EPC services, and IPP expertise. The Greater Noida-based company, listed on NSE Emerge, noted that the capital requirements would be fulfilled through additional facilities from banks and financial institutions, internal accruals, and equity infusion. Earlier this year, the company acquired a seven-acre land parcel from the Uttar Pradesh Industrial Development Authority to construct its second manufacturing unit. They stated that the solar cell plant would be built on the same site, along with a recently announced plan to establish a greenfield facility for 1.2 GW of solar PV modules. Additionally, the company revealed its goal to achieve a total capacity of 1.2 GW in solar modules by Q3FY25. It is also doubling its solar PV module capacity to 2.4 GW and increasing its aluminum frame production capacity.

Next Story
Real Estate

Varun Malik Joins ANAROCK as MD, Head of Capital Markets, APAC

ANAROCK Capital has appointed Varun Malik as Managing Director, Head of Capital Markets (APAC), marking a strategic move to expand its presence across Asia-Pacific. Based in Singapore, Malik will drive ANAROCK’s capital markets initiatives in the region.A real estate finance veteran, Malik brings over 18 years of experience in structuring complex cross-border transactions across South-East Asia and Australia. He has led debt and equity deals for REITs, fund managers, and developers, delivering strong returns and driving investor value.“We will redefine real estate capital solutions across ..

Next Story
Real Estate

Patra Chawl lottery held, 663 families allotted homes

Mumbai's Siddharth Nagar (Patra Chawl) Co-operative Housing Society members in Goregaon (West) saw their 15-year wait come to a close as MHADA conducted a successful computerised lottery for 663 eligible members under its redevelopment scheme.The Mumbai Housing and Area Development Board conducted the draw using the RAT (Randomised Allotment of Tenement) system at Sardar Vallabhbhai Patel Hall. The lottery, overseen by Mr. Milind Borikar, Chief Officer of Mumbai Board, ensured transparency by digitally allotting each member a building, wing, and floor.The project, located on Plot R-9, received..

Next Story
Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?