Gautam Solar to set up ₹4,000 cr 5 GW solar cell plant in MP by 2026

Gautam Solar will invest Rs 4,000 crore to build a 5 GW solar cell facility in Gwalior, with Phase 1 of 2 GW capacity to be completed by 2026 and expansion planned through an IPO

Gautam Solar Private Ltd (GSPL) on Monday announced plans to invest Rs 4,000 crore to set up a solar cell manufacturing facility at Gwalior in Madhya Pradesh. The project, to be developed on 4 acres of land, will produce TOPCon cells with a planned capacity of 5 gigawatt (GW).

 

“Implementation of the project has commenced with Phase 1, which will include setting up a solar cell manufacturing capacity of 2 GW. The development is expected to be completed by calendar year 2026,” the company, a leading module manufacturer, said in a statement.

 

It added that after the completion of the first phase, an initial public offer (IPO) will be launched to raise funds for the second phase, which will add an additional 3 GW capacity. In the future, Gautam Solar also plans to expand into solar wafer manufacturing to create an integrated solar value chain in India. 

 

 

“With one of the largest solar cell manufacturing units in India using the latest TOPCon technology, we envision deepening the domestic solar manufacturing context while reducing reliance on imports for the ecosystem,” said Gautam Mohanka, director at Gautam Solar.

 

The project is expected to strengthen the domestic solar manufacturing ecosystem and contribute to the country’s clean energy goals. Gautam Solar operates multiple manufacturing units across India and is targeting a solar module manufacturing capacity of 5 GW by end-FY26, up from the current 3.2 GW.