Alpex Solar to Expand Manufacturing Capacity and Enter Solar Cell Production

Alpex Solar Ltd., a renewable energy firm, has announced significant expansions in its manufacturing capabilities and a strategic foray into solar cell production. The company shared these developments at its recent investors' meeting held in Mumbai, where CEO Aditya Sehgal and CFO Amit Ghai addressed investors.

"The company is set to double its solar module manufacturing capacity in two phases. The first phase focuses on expanding the current facility in Greater Noida, increasing capacity from 900 MW to 1.2 GW by FY25, with an additional 300 MW expected to come online by December 2024. The second phase involves a greenfield project in Kosi Kotwan, Mathura, which will add 1.2 GW of high-power solar module capacity by FY26. Once completed, Alpex Solar’s total manufacturing capacity will reach 2.4 GW," said Sehgal.

He further revealed, "Alpex Solar is establishing a 1.6 GW solar cell manufacturing facility at Kosi Kotwan in three phases, leveraging advanced MonoPERC and n-Type TopCON technologies. The project, with an investment of INR 642 crore, is expected to achieve full capacity by September 2026."

The company also plans to double its workforce, train engineers in advanced solar technologies, and scale its EPC operations to 150 MW. "It is also developing 100 MW of IPP projects to bolster its renewable energy portfolio. Having successfully gone public earlier this year, with shares debuting at INR 345.45 against an IPO price of INR 115, Alpex Solar is backed by strong investor confidence," said Sehgal.

He emphasised the transformative nature of these expansions, which will enhance manufacturing capabilities, ensure supply chain reliability, and support India’s renewable energy goals.