Goldi Solar targets 14-GW solar module capacity by FY26: Ishver Dholakiya

04 Oct 2024 CW Team

Goldi Solar plans to enhance its module manufacturing capacity from the current 3 gigawatts (GW) to 14 GW by the middle of the financial year 2025-26 (FY26) and aims to achieve a solar cell manufacturing capacity of 4 GW by FY27. This expansion of module capacity is proposed at a new facility in Kosamba, Gujarat.

Approximately Rs 1 billion in capital expenditure is necessary for every 1 GW of solar manufacturing capacity.

Dholakiya noted that the company’s turnover had increased from Rs 6 billion in FY22 to Rs 17.50 crore in FY24, reflecting a growth of 191.67 per cent over the past three years. He emphasised that the company is not only expanding its production capacity but also building a foundation for innovation and leadership in the renewable energy sector.

The current order book of the company stands at about Rs 53.50 billion, which comprises Rs 45.50 billion in module manufacturing and Rs 8 billion in EPC contracts. He expressed the company's goal to advance solar technology while empowering industries and communities to embrace sustainable solutions that will influence the energy landscape for generations.

According to the Gujarat-based firm, the expansion will create new market opportunities in northern, eastern, and southern India. Additionally, the company intends to increase its workforce by hiring over 4,000 employees. Dholakiya added that with new leadership and thousands of new professionals joining the team, they are cultivating a culture of innovation that will establish new benchmarks in the industry, positioning them to redefine what is achievable in solar energy, both in India and globally.

Currently, the firm operates two manufacturing plants in Pipodara and Navsari, Gujarat, with a combined capacity of 3 GW.

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