Image: Fujiyama Power Systems
Fujiyama Power Systems has approved plans to set up a 1.2 GW TOPCon solar cell manufacturing facility at its Ratlam plant in Madhya Pradesh, expanding domestic solar energy production in India.
The facility, which is expected to begin commercial production in the first quarter of full fiscal 2028, will complement the company’s existing manufacturing facilities. 1 GW Mono PERC solar cell factory in DadriUttar Pradesh.
The INR 350 crore ($36.5 million) project will be financed through debt and internal accruals as part of Fujiyama’s backward integration and technology upgrade strategy. The company said the expansion will help reduce cost volatility, secure DCR compliant solar cell supply, improve margins and strengthen its position in the Indian rooftop solar segment, especially with the ALMM-II solar cell rules coming into effect from June 1, 2026.
“This expansion strengthens our backward integration, improves cost control and ensures consistent availability of DCR-compatible solar cells,” said Chairman and Co-CEO Pawan Kumar Garg.
He added that the company’s inclusion in the Ministry of New and Renewable Energy’s ALMM-II list will enable it to capitalize on the growing demand for DCR solar panels among the Pradhan Mantri Surya Ghar Muft Bijli Yojana.
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