Gautam Solar plans IPO

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From pv magazine India

Gautam Solar has revealed plans to increase its solar module manufacturing capacity to 5 GW by 2025. The company has also announced a $121.1 million PV cell expansion project, which will be financed through an IPO planned for the next 12 to 18 months.

“This expansion will occur in three phases, with the first phase set for completion in November 2024, followed by the second and third phases in January and April 2025, respectively,” said the company.

The new solar cell factory will enable Gautam Solar to meet India's domestic content requirements, which are crucial for government-backed subsidy projects requiring locally manufactured components.

Gautam Solar has already acquired a plot of land in Bhiwani, Haryana, for the expansion of its solar panel manufacturing capacity. However, it said that it is still open to considering other locations based on the overall ecosystem.

By vertically integrating its operations, the company said it will further expand its capabilities, building on its already operational solar module factory in Haridwar and an upcoming module manufacturing expansion in Bhiwani.

New Delhi-based Gautam Solar is in the process of expanding its solar module capacity to 3 GW by 2024-25 and to 5 GW by 2025-26.

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