Gautam Solar Enters Solar Cell Manufacturing - Rs 1,000 Cr Investment
Sep 18, 2024 13:00
Gautam Solar announces plans to invest Rs 1,000 crore in a 2 GW solar cell manufacturing facility, aiming to meet rising demand for DCR-compliant panels and compete with Chinese manufacturers.
New Delhi, Sep 18 (PTI) Gautam Solar on Wednesday announced its foray into solar cell manufacturing with a plan to invest Rs 1,000 crore in a 2 GW facility.
This facility will enable Gautam Solar to meet the rising demand for DCR (domestic content requirement) panels, crucial for government-backed subsidy projects requiring locally-manufactured components, a statement said.
The company aims to enhance its competitiveness by offering high-quality, DCR-compliant solar cells, positioning itself as a strong alternative to Chinese manufacturers, who currently dominate the Indian solar cell supply chain.
CEO Gautam Mohanka said the facility is aligning with Ministry of New and Renewable Energy's (MNRE) guidelines on promoting indigenous manufacturing of solar cells.
The company's expansion into solar cell manufacturing will significantly contribute to India's target of achieving a renewable energy capacity of 500 GW by 2030 and help secure its position as a global solar energy hub, it said.
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