Surat-based Navitas Solar is preparing an investment plan of Rs. 100 bn over the next five years to establish an integrated renewable energy ecosystem across Gujarat and Maharashtra. The proposed expansion will cover manufacturing, power generation and energy storage.

The company plans to build facilities for ingots, wafers, high-efficiency solar cells and battery energy storage systems (BESS), besides developing two solar parks. The strategy is intended to increase backward integration as India promotes domestic value addition and clean energy infrastructure.

Navitas Solar has already commissioned a 2.5-GW solar module manufacturing facility at Sisodara in Surat district, taking its total module production capacity to 3 GW. It is also setting up a 2.4-GW solar cell manufacturing line on an adjoining plot, along with 100-MW pilot lines for ingot and wafer production.

The first phase of the solar cell plant involves an investment of Rs. 12 bn, with operations expected to begin by July 2027. The pilot facilities will help the company build technical expertise before scaling production, while the promoters are planning an initial public offering over the next couple of years to raise part of the required capital.

The promoters currently hold about 67 per cent of Navitas Solar after earlier equity dilution. The company, founded in 2013 by Vineet Mittal, Sunay Shah, Ankit Singhania and Aditya Singhania, reported revenue of Rs. 13 bn in FY26 and is targeting more than Rs. 20 bn in FY27.

Beyond manufacturing, Navitas Solar is developing two solar parks in Maharashtra under engineering, procurement and construction and independent power producer models, with capacities of 200 MW and 25 MW. It is also entering the storage market with a 5-GWh BESS facility in Vadodara, involving an investment of about Rs. 1 bn.