GP Eco Solutions India has announced big plans for solar PV manufacturing in Madhya Pradesh
It aims to develop 5 GW solar module and 2 GW solar cell production capacity
Under the MoU signed with the state government, it will invest INR 10 billion to realize the project
Indian solar energy company GP Eco Solutions India Limited has unveiled plans to add 7 GW of solar cell and module manufacturing capacity in Madhya Pradesh under a memorandum of understanding (MoU) with the state government.
GP Eco aims to establish a manufacturing unit for 5 GW solar panel and 2 GW cell production capacity. It will invest INR 10 billion ($114 million) by the end of FY2028 to execute these plans, which it estimates will create employment for over 500 people.
The company signed the MoU with the state government’s New and Renewable Energy Department at the Global Investors Summit 2025 (GIS 2025).
“While this MoU represents an expression of intent, further definitive agreements and regulatory approvals will be pursued in due course,” stated the company.
This will be a big expansion for GP Eco, which is currently a distributor of solar inverters and storage solutions for brands like Sungrow, Saatvik Solar, and is also into providing solar panel installation and operation and maintenance (O&M) services.
The company was listed on the National Stock Exchange (NSE) in June 2024 after it launched an initial public offering (IPO). It had revealed plans to raise proceeds for working capital needs, invest in its subsidiary Invergy India Private Limited, and establish a factory. Under the Invergy brand, it supplies encap graphite batteries.
Meanwhile, Madhya Pradesh attracted several other investors in the renewable energy sector at the GIS 2025. It received 441 proposals in the energy and renewable energy sector worth INR 8,943.01 billion (over $102 billion). Avaada Energy plans to fund 6 GW of solar, 700 MW of wind, 2.1 GW of battery energy storage systems (BESS), and 2 GW of pumped storage projects in the state, along with a solar module manufacturing factory for INR 500 billion ($5.72 billion).
The Solar Energy Corporation of India (SECI) also announced INR 25 billion ($286 million) in investments for renewable energy projects in the Indian state.
Under the Madhya Pradesh Renewable Energy Policy 2025, the state targets to develop 10 GW of renewable energy/hybrid parks by FY2027 under state and central government schemes, and an additional 10 GW to export power outside the state. As of January 31, 2025, the state’s total installed renewable energy capacity exceeded 10 GW with the inclusion of 4.99 GW solar PV.