Nikhil Kamath invests ₹137.5 crore in Goldi Solar to expand capacity

Zerodha co-founder Nikhil Kamath invests ₹137.5 crore in Goldi Solar, supporting its expansion into solar cell manufacturing and capacity growth in renewable energy

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Nikhil Kamath, co-founder of investment platform Zerodha, on Monday announced his investment of ₹137.5 crore in Goldi Solar, a solar photovoltaic (PV) module manufacturing company. With this investment, Goldi Solar plans to expand its production capacity and strengthen its position as a leading global renewable energy manufacturer.

 

Backing India’s clean energy transition 

Commenting on the investment, Kamath said, “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition.”

 

Goldi Solar’s rapid expansion and future plans 

Over the past 12 months, Goldi Solar has nearly tripled its solar PV module manufacturing capacity from 3 gigawatts (GW) to 14.7 GW. The company is also developing solar cell manufacturing facilities in Surat, Gujarat. It plans to continue introducing high-efficiency solar PV modules and cells using emerging technologies to meet India’s growing clean energy requirements.

 

Company background and leadership 

Headquartered in Surat and founded in 2011 by Ishverbhai Dholakia, Goldi Solar is among India’s largest solar module manufacturers. It is now expanding into large-scale solar cell manufacturing to serve both domestic and export markets.

 

Industry context: rising demand and policy support 

The investment comes at a time of rapid growth in domestic solar demand, backed by government targets of 280 GW of solar power by 2030. Import duties on foreign modules and incentives for local manufacture₹under the Production Linked Incentive (PLI) scheme are also driving expansion in India’s solar manufacturing sector.