Indian PV manufacturer Alpex Solar says it plans to double its PV module capacity to 2.4 GW by fiscal 2026 and is exploring gigawatt-scale solar cell production.
India’s Alpex Solar has announced plans to double the capacity of its PV modules to 2.4 GW by fiscal 2026. It will install the new capacity at its recently acquired site in Kosi Kotwan, Mathura, Uttar Pradesh. The board has also authorized the Managing Director to explore gigawatt scale solar cell manufacturing, which will also be set up at the Kosi Kotwan plant.
“[Solar cell manufacturing] can bring us multiple benefits, including cost, profitability and branding, and enhance our ability to offer turnkey services to the end user,” said Ashwani Sehgal, Managing Director, Alpex Solar. “The negotiations are at an advanced stage and the Board of Directors and the respective authorities will be informed once they become more robust. The capital expenditure will be met through additional facilities from banks and financial institutions, internal accrual and capital injections.”
Alpex Solar said it plans to expand its PV module capacity by 750 MW to 1.2 GW and set up an aluminum frame manufacturing unit using proceeds from its IPO. The company has completed 900 MW of the expansion and expects to complete the remaining 300 MW at the current site within the next three months, targeting a total capacity of 1.2 GW by the third quarter of fiscal 2025.
It has planned its aluminum frame production project in three phases.
“Phase one has been successfully completed and is operational at the Greater Noida plant. Due to space constraints, the remaining phases will be implemented on the newly acquired land in Kosi Kotwan as part of our greenfield expansion,” Alpex Solar said.
Earlier this year, Alpex Solar purchased a plot of land from the Uttar Pradesh Industrial Development Authority (UPSIDA) in Kosi Kotwan, Mathura, Uttar Pradesh, for its second manufacturing unit. The company said it plans to build a 1.2 GW solar module facility at the site, funded by internal facilities and loans.
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