Fujiyama approves 1.2 GW TopCon solar cell plant in Madhya Pradesh
Fujiyama Power Systems Limited has approved the establishment of a 1.2 GW TopCon solar cell manufacturing facility at its Ratlam plant in Madhya Pradesh. The company’s board approved the decision as part of its expansion and backward integration strategy.
The rooftop solar solutions provider currently operates a 1 GW Mono PERC solar cell manufacturing facility at Dadri in Uttar Pradesh. The addition of the Ratlam plant is expected to expand the company’s integrated manufacturing presence across the solar value chain.
The proposed facility will have a production capacity of 1.2 GW of TopCon solar cells. The project involves an estimated investment of Rs 350 crore and will be funded through a mix of debt and internal accruals. Commercial operations are expected to commence in the first quarter of FY2028.
The company stated that the project supports its technology upgradation and backward integration plans. According to Fujiyama, the expansion is intended to reduce cost volatility, improve the availability of Domestic Content Requirement (DCR)-compliant solar cells, enhance gross margins, and strengthen its position in the business-to-consumer (B2C) rooftop solar segment.
Fujiyama also said the implementation of the Approved List of Models and Manufacturers (ALMM)-II for solar photovoltaic (PV) cells from June 1, 2026, is expected to increase demand for domestically manufactured solar cells and DCR-compliant solar panels.
Pawan Kumar Garg, Chairman and Joint Managing Director of Fujiyama Power Systems, said the approval marks a key milestone in the company’s growth plans by strengthening backward integration, improving cost control, and ensuring a stable supply of DCR-compliant solar cells.
He added that Fujiyama’s recent inclusion in the Ministry of New and Renewable Energy (MNRE) ALMM-II list for solar cells positions the company to address rising domestic demand for DCR solar panels and expand its presence in the on-grid rooftop solar market, particularly under the Pradhan Mantri Surya Ghar Muft Bijli Yojana.
Garg said the Ratlam facility will support the company’s objective of expanding access to domestically manufactured rooftop solar solutions across Indian households.
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