Alpex Solar to invest Rs 6.42 billion in 1.6 GW solar cell production capacity

04 Oct 2024 CW Team

Alpex Solar announced its entry into solar cell manufacturing, with plans to establish a 1.6-gigawatt (GW) capacity plant in Kosi Kotwan, Mathura, at an estimated project cost of Rs 6.42 billion.

As stated in the official press release, the expansion will occur in three phases, with the first 500 MW expected to be operational by October 2025. The completion of the remaining two phases is scheduled for April 2026 and September 2026, respectively.

Ashwani Sehgal, the managing director of Alpex Solar, indicated that this initiative is the largest since the company's inception and aims to elevate their product offerings. He mentioned that the venture into solar cells would strengthen their vision for integrated solutions, which currently includes solar PV modules, aluminum frames, EPC services, and IPP expertise.

The Greater Noida-based company, listed on NSE Emerge, noted that the capital requirements would be fulfilled through additional facilities from banks and financial institutions, internal accruals, and equity infusion. Earlier this year, the company acquired a seven-acre land parcel from the Uttar Pradesh Industrial Development Authority to construct its second manufacturing unit. They stated that the solar cell plant would be built on the same site, along with a recently announced plan to establish a greenfield facility for 1.2 GW of solar PV modules.

Additionally, the company revealed its goal to achieve a total capacity of 1.2 GW in solar modules by Q3FY25. It is also doubling its solar PV module capacity to 2.4 GW and increasing its aluminum frame production capacity.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..