The company is to invest Rs 5,000 crore to double its module manufacturing capacity to 6,000 MW by 2026, besides setting up a cell manufacturing unit
Goldi Solar, under the leadership of Managing Director Ishver Dholakiya, has unveiled ambitious plans to further expand its operational capacity. The company intends to augment its capacity by an additional 1,000 MW, reaching a total of 4,000 MW by the end of December. Additionally, Goldi Solar has set its sights on amassing an order book valued at Rs 5,000 crore for the 2023–24 fiscal year.
Expressing confidence in the solar market, Dholakiya highlighted the strong demand for their products both domestically and internationally. He stated, "We are bullish on the solar market. There is a good demand for our products in domestic and international markets. Now, we are aiming for order bookings of over Rs 5,000 crore in the current fiscal from customers in India, the US, South America, Africa, Europe, and the Gulf countries," in response to a query about exports.
Furthermore, Goldi Solar is actively working to operationalize an additional 1,000 MW of capacity by the third quarter of the current fiscal year. This Gujarat-based company currently boasts two solar module/panel manufacturing plants with a combined capacity of 3,000 MW located in Pipodara and Navsari districts.
As part of their expansion strategy, the company is in the process of investing Rs 5,000 crore to double its module manufacturing capacity to 6,000 MW by 2026. They are also in the process of establishing a cell manufacturing unit to contribute to India's self-reliance in the solar industry. Dholakiya emphasized the significance of this move, explaining, "There are very few companies that are into solar cell manufacturing in India.
A large portion of its requirements are met through imports. As part of Prime Minister Narendra Modi's Make in India and Aatmanirbhar Bharat missions, we are setting up a cell manufacturing unit in India that will cater to domestic demand at competitive prices, reducing dependence on imports."
Regarding the status of the cell manufacturing facility, Dholakiya revealed that Goldi Solar is engaged in discussions with global players to acquire the necessary technology for manufacturing. He added, "We are planning for the initial production of cells with the latest Topcon technology, which is 20–25 percent more efficient than currently used Mono Perc cells. This aligns with our policy of bringing the latest technology to our esteemed customers and always staying ahead of the technology curve."