Alpex Solar to invest Rs 642 crore to set up 1.6 GW solar cell manufacturing capacity

Greater Noida-based solar systems manufacturing Company Alpex Solar Ltd will set up a 1.6 GW solar cell manufacturing capacity at Kosi Kotwan, Mathura, for Rs 642 crore. The expansion will be completed in three phases, with the first 500 MW expected to come on stream by October 2025. The remaining two phases will be completed by April 2026 and September 2026, respectively.

The capital outlay will be met through additional facilities from banks and financial institutions, internal accruals, and equity infusion. Earlier this year, the company purchased a 7-acre land parcel from the Uttar Pradesh Industrial Development Authority (UPSIDA) to build the second manufacturing unit. The solar cell plant will be installed on the same premises along with the recently announced plan to set up a greenfield facility of 1.2 GW solar PV modules.

The company also recently announced that it will achieve a total capacity of 1.2 GW in solar modules by Q3FY25.