From pv magazine India
Gujarat-based Navitas Solar announced it will expand its annual PV panel production capacity from 500 MW to 1.7 GW by the end of December.
The new 1.2 GW factory will produce M10 and G12 mono PERC and TOPCon modules. It is located at Sisodara village in Bharuch district of Gujarat.
Navitas Solar has raised $5 million to fund the expansion. The funding round saw participation from high-net-worth individuals. Lead investors included promoters of Parishi Diamond Group and Lemon Emerging Ventures.
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The company said with this expansion plan it aims to export its products to the US and Europe.
At its existing 500 MW factory in Surat, Navitas Solar manufactures polycrystalline and mono PERC solar modules with outputs ranging from 5 W to 600 W.
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