Oswal Pumps Limited has announced plans to establish a 1.2 GW solar cell manufacturing facility using Tunnel Oxide Passivated Contact (TOPCon) technology. The board of directors of its wholly owned subsidiary, Oswal Solar Energy Private Limited (OSEPL), has approved the proposal. Commercial production is expected to begin by April 2028.
The entire output from the new facility is planned for captive use at OSEPL’s solar module manufacturing lines. The investment will strengthen the company’s control over its solar manufacturing operations and reduce its dependence on externally sourced domestic content requirement (DCR) cells.
The proposed plant is expected to meet around 75% of OSEPL’s total solar cell requirements. The remaining demand will continue to be met through external suppliers in the near term. Solar cells are a critical component in module manufacturing, particularly for companies supplying government-backed programmes such as PM-KUSUM and PM Surya Ghar. By manufacturing cells in-house, Oswal Pumps aims to secure a more reliable supply, reduce exposure to spot-market price fluctuations and improve control over procurement costs and delivery schedules.
The company said its evaluation of investment options found captive cell manufacturing to be more economically attractive than adding further module capacity or investing in other components. Its existing module capacity of around 570 MW, along with an additional 1 GW line under development, is considered sufficient for current requirements.
The company has also reviewed plans for an aluminium frame manufacturing facility and further expansion of its EVA encapsulant capacity. Aluminium frames are widely available from market suppliers, while the retained 1.2 GW EVA capacity is expected to meet most of its module manufacturing needs. The company believes that investing in solar cells will address a more pressing supply-chain requirement and offer better long-term value.
Vivek Gupta, Chairman and Managing Director of Oswal Pumps Limited, said the project marked an important step in the company’s move towards becoming a fully integrated solar solutions provider. He said the company had already developed capabilities in pumps, solar pumping systems and solar modules, and that in-house cell production would provide greater control over quality, cost and production timelines.
Mr Gupta added that TOPCon technology would support higher cell efficiency and long-term performance. He also pointed to the growing demand for domestically manufactured solar cells following the implementation of ALMM List-II and the opportunities arising from India’s renewable energy programmes.
Oswal Pumps has more than two decades of experience in pump engineering and manufacturing. Its product portfolio includes solar-powered and grid-connected pumps, electric motors, solar modules and turnkey solar pumping systems. The company serves agricultural, residential and industrial customers through its distribution network across India and its growing international presence.
