Alpex Solar, a prominent solar solutions provider, has announced plans to expand its photovoltaic (PV) solar module production capacity to 2.4 GW by the fiscal year 2025-26. This move will effectively double the company’s current capacity.
The expansion will involve setting up a new greenfield project with a capacity of 1.2 GW of solar PV modules. This facility will be located on newly acquired land in Kosi Kotwan, Mathura, Uttar Pradesh. In addition to this, Alpex Solar is considering entering the solar cell manufacturing sector with plans to establish a production line with gigawatt-level capacity.
The company plans to fund this expansion through a combination of internal accruals and loans. Upon completion, the new facility will help Alpex Solar meet the increasing demand for solar energy in India and key international markets.
Ashwani Sehgal, Managing Director of Alpex Solar, highlighted the strategic benefits of venturing into solar cell manufacturing, stating, “We are exploring the potential to manufacture solar cells, which could provide us with significant advantages in terms of cost, profitability, and branding, while also enhancing our ability to offer comprehensive turnkey solutions to our customers.”
The company is progressing with plans to establish a gigawatt-scale solar cell production line at the Kosi Kotwan site. According to Sehgal, negotiations are in advanced stages, and formal announcements will be made once details are finalized. The necessary capital will be secured through bank loans, financial institutions, internal funds, and equity infusion.
Alpex Solar has already completed a significant portion of its ongoing expansion, successfully adding 900 MW to its solar PV module capacity. The remaining 300 MW is expected to be operational within the next three months, bringing the total capacity to 1.2 GW by the third quarter of FY2025.
Additionally, the company is in the process of acquiring a 17,846.63 square meter land parcel in Kosi Kotwan to establish a third plant in the future. This land, adjacent to the company’s existing property, is valued at approximately ₹7 crore.
