Gautam Solar Ventures into Solar Cell Manufacturing with Rs 1,000 Crore Investment

Gautam Solar announced its entry into solar cell manufacturing, planning to invest Rs 1,000 crore in a 2 GW facility. This will boost the supply of DCR-compliant panels for government-backed projects. The initiative aligns with MNRE's guidelines and aims to contribute to India's renewable energy goals.

In a significant move, Gautam Solar on Wednesday announced its entry into solar cell manufacturing, unveiling plans to invest Rs 1,000 crore in a 2 GW facility.

This strategic investment will enable Gautam Solar to cater to the growing demand for domestic content requirement (DCR) panels, which are essential for government-subsidized projects that mandate locally-manufactured components.

According to CEO Gautam Mohanka, the new facility is in line with the Ministry of New and Renewable Energy's (MNRE) guidelines on promoting indigenous solar manufacturing. The expansion is expected to reinforce India's goal of achieving a renewable energy capacity of 500 GW by 2030 and establish the country as a global leader in solar energy.

(With inputs from agencies.)