Alpex Solar Secures Additional Orders of INR 277.19 Crore from PSU
Alpex Solar Ltd. received an additional order worth INR 277.19 crore from a leading PSU for solar panel supply, bringing total orders from this PSU to INR 525.15 crore in the past two weeks. The projects will be completed by June 2025.
October 18, 2024. By EI News Network
As per the firm, this new order comes just two weeks after the company received an earlier order worth INR 247.96 crore from the same PSU, bringing the total value of contracts to INR 525.15 crore within a short span of time.
This cumulative order underscores Alpex Solar's growing presence in India’s expanding solar energy market and its ability to meet large-scale demand from government-backed entities. Both projects focus on the supply of solar PV modules, with scheduled completion by June 2025. These high-efficiency solar panels are expected to significantly contribute to the country’s renewable energy efforts.
It may be recalled that earlier this month, Alpex Solar announced its entry into solar cell manufacturing. The company is planning to set up a 1.6 GW capacity plant in Kosi Kotwan, Mathura, at an estimated cost of INR 6.42 billion. The plant will be developed in three phases, with the first 500 MW to be operational by October 2025. The remaining phases are slated for completion by April 2026 and September 2026, respectively. The new solar cell manufacturing facility will be installed at the same premises as its existing solar manufacturing plant.
Further bolstering its production capabilities, in September 2024, Alpex Solar disclosed its plans to increase its photovoltaic solar capacity to 2.4 GW by 2026, reflecting the company’s ambitious growth plans in the renewable energy sector.
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