Grew Solar Raises Rs 1,050 Crore for Expansion
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Grew Solar secures Rs 1,050 crore to fund growth, expand solar cell manufacturing capacity to 8 GW, and fulfill a 550 MW module order.
New Delhi, Feb 13 (PTI) Grew Solar has raised Rs 1,050 crore to fund growth and expansion plans.
The latest round was led by Bay Capital Investment Ltd, with participation from two other institutional investors, the company said in a statement.
The new funds worth Rs 1,050 crore will be utilised to strengthen ongoing operations and support strategic expansion initiatives.
A significant portion of the investment will be directed towards expanding the solar cell manufacturing facility, increasing total cell manufacturing capacity from the planned 3 GW to 8 GW.
In a separate statement, the company said it has secured a 550 MW solar module supply order from a leading independent power producer.
The latest round was led by Bay Capital Investment Ltd, with participation from two other institutional investors, the company said in a statement.
The new funds worth Rs 1,050 crore will be utilised to strengthen ongoing operations and support strategic expansion initiatives.
A significant portion of the investment will be directed towards expanding the solar cell manufacturing facility, increasing total cell manufacturing capacity from the planned 3 GW to 8 GW.
In a separate statement, the company said it has secured a 550 MW solar module supply order from a leading independent power producer.
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