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Navitas Solar Plans ₹10,000-Crore Renewable Energy Expansion Across Gujarat, Maharashtra
Navitas Solar wants to spend ₹10,000 crore on clean-energy projects over the next five years.
The projects will be in Gujarat and Maharashtra.
The company plans to make many parts of solar panels itself.
These parts include ingots, wafers, solar cells and modules.
It also plans to make large battery systems for storing electricity.
Navitas Solar is building a solar cell factory expected to start working by July 2027.
It is developing two solar parks in Maharashtra.
The company also plans to raise money through an IPO in the next couple of years.
Navitas Solar plans to invest ₹10,000 crore over five years across Gujarat and Maharashtra.
The expansion includes ingot, wafer, solar cell, module and battery-storage manufacturing facilities.
The company has commissioned a 2.5-GW facility, taking total module capacity to 3 GW.
A 2.4-GW solar cell plant is being built in phases and is expected to operate by July 2027.
Navitas Solar is developing two Maharashtra solar parks and a 5-GWh battery storage facility in Vadodara.
- Who
- Navitas Solar, a Surat-based renewable-energy company founded by four friends.
- What
- A proposed ₹10,000-crore expansion covering solar-component manufacturing, solar parks and battery energy storage.
- Where
- Projects are planned across Gujarat and Maharashtra, including facilities in Sisodara, Surat district, and Vadodara.
- When
- The investment is planned over the next five years; the solar cell facility is expected to become operational by July 2027.
- Why
- The company aims to benefit from India’s push for domestic renewable-energy manufacturing and clean-energy infrastructure.
Key facts
- Planned investment
- ₹10,000 crore over five years
- Current module capacity
- 3 GW
- Solar cell project
- 2.4 GW, with Phase I costing ₹1,200 crore
- Expected cell-facility operation
- July 2027
- Solar parks
- Two projects in Maharashtra with capacities of 200 MW and 25 MW
- Battery storage project
- 5-GWh BESS facility in Vadodara, costing around ₹100 crore
- FY26 revenue
- ₹1,300 crore; FY27 target is ₹2,000 crore
Quotes
Ankit Singhania
Director of Navitas Solar
“Currently, we are building Phase I of a 2.4-GW solar cell manufacturing plant at an investment of ₹1,200 crore. We are also setting up pilot projects for ingots and wafers to develop technical expertise before the government introduces its policy framework. This will enable us to scale up quickly”
thehindubusinessline.com
“If the growth trajectory in the renewable sector continues, we plan to invest ₹10,000 crore over the next five years. The investments will cover the entire value chain, including solar cells, ingots, wafers, battery storage and solar parks.”
thehindubusinessline.com
Sources
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