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

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?