Alpex Solar is venturing into solar PV cell manufacturing with an estimated INR 6.42 billion investment
Its planned 1.6 GW capacity development will be realized in 3 phases, to be completed by September 2026
The manufacturer is also working to double its module manufacturing capacity to 2.4 GW
Indian solar PV manufacturer Alpex Solar Limited has announced plans to venture into solar cell manufacturing with 1.6 GW of annual production capacity for an investment worth INR 6.42 billion ($73.4 million) in Uttar Pradesh.
The manufacturer will execute this capacity in 3 phases with 500 MW planned for the initial phase. It will be realized by October 2025. The remaining 1.1 GW will be developed in 2 subsequent phases, scheduled to be completed in April 2026 and September 2026, respectively.
Alpex Managing Director Ashwani Sehgal called it the company’s biggest initiative since its inception. The manufacturer will meet the capital outlay for the cell fab through additional facilities from banks and financial institutions, internal accruals, and equity infusion.
The cell factory will be located in Kosi Kotwan of Mathura district where the company has already acquired land. Additionally, it will double its solar PV module capacity to 2.4 GW with the addition of 1.2 GW at the Kosi Kotwan fab. This will be in addition to its ongoing expansion to reach 1.2 GW by Q3 FY 2025, from the 900 MW it operates at present (see Alpex Solar & Jakson Engineers Planning Solar Cell Manufacturing).
At its booth at the Renewable Energy Expo India 2024, Alpex has displayed its technology roadmap till 2027, which also includes perovskite tandem technology.