Gautam Solar to invest Rs 4,000 crore in 5 GW solar cell plant in Madhya Pradesh

Gautam Solar Pvt Ltd has announced plans to invest Rs 4,000 crore in a new solar cell manufacturing facility in Madhya Pradesh. The project will be located on a 54-acre site in Gwalior.

According to the company, the facility will focus on producing advanced Tunnel Oxide Passivated Contact (TOPCon) solar cells, with a total planned capacity of 5 gigawatts (GW) per year.

The development will be implemented in phases. Phase 1, now underway, will establish 2 GW of solar cell manufacturing capacity and is scheduled for completion by December 2026. After Phase 1, Gautam Solar intends to launch an initial public offering (IPO) to fund Phase 2, which will add 3 GW capacity.

Director Gautam Mohanka said the investment would strengthen domestic solar cell production using TOPCon technology and contribute to reducing import dependence. He added that the company’s long-term vision is to integrate operations across the solar supply chain, from wafers to modules, in line with India’s clean energy and self-reliance goals.