Vikram Solar Limited has secured final approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The IPO includes a fresh issue of equity shares worth up to Rs 15 billion and an offer for sale of up to 17.45 million equity shares by the promoter and promoter group. Each equity share carries a face value of Rs 10. The company plans to allocate Rs 7.93 billion from…
Jupiter Renewables, a subsidiary of Jupiter International, will invest Rs 27 billion to set up a large-scale solar photovoltaic (PV) cell and module manufacturing facility in Andhra Pradesh. The project will be developed in two phases at Rambilli in Anakapalli district. Phase 1, with an investment of Rs 15.04 billion, includes 2.4 GW of solar PV cell and 1.5 GW of module manufacturing capacity. It is scheduled for commissioning by March 2026. Phase 2 will…
Multi Infrastructure and Engineering Private Limited (MIEPL) has secured a contract from Central Electronics Limited (CEL) to set up a 200 MW solar module manufacturing facility in Ghaziabad, Uttar Pradesh. The project tender was floated by CEL in April 2025. It will be implemented on a revenue-sharing model under the Make in India initiative. MIEPL stated that the new facility will help scale up domestic solar module production. The move is aimed at cutting import…
Premier Energies Limited (PEL) has signed a joint venture agreement with Nuevosol Energy Private Limited to invest in Premier-Green Aluminium Private Limited. The new entity will focus on manufacturing aluminium frames for solar photovoltaic (PV) modules. The joint venture will set up a facility for aluminium foundry and extrusion, targeting high-quality frame production to serve both domestic and captive demand. The manufacturing unit will cater exclusively to the Indian market and feature modern infrastructure. Under…
SAEL Industries Limited has announced plans to establish a solar cell manufacturing facility in Greater Noida, Uttar Pradesh. The facility will have an annual production capacity of 5 GW and is expected to attract an investment of around Rs 50 billion. This marks SAEL’s entry into solar cell manufacturing. The company may also expand into production of wafers and ingots, based on market demand and policy support. SAEL is also preparing for an initial public…
ReNew Energy Global has secured an investment of Rs 8.7 billion from British International Investment (BII) in its subsidiary, ReNew Photovoltaics. This is BII’s first investment in India’s solar manufacturing sector and involves the acquisition of a minority stake in the subsidiary. The funding will be used to build a new 4 GW TOPCon solar cell facility in Dholera, Gujarat. Once complete, ReNew’s total manufacturing capacity will rise to 6.4 GW of solar modules and…
Jindal Poly Films Limited (JPL), a major player in packaging films, has announced plans to acquire full ownership of Enerlite Solar Films India. Enerlite manufactures encapsulation films used in photovoltaic (PV) modules. JPL currently holds a 33.05% stake in Enerlite. The acquisition, conducted on an arm’s length basis, will make Enerlite a wholly owned subsidiary. Completion is expected within six months, pending regulatory approvals. This move aligns with JPL’s strategy to expand into the solar…
Premier Energies Limited has set up a wholly owned subsidiary, Premier Energies GWC Private Limited, to manufacture and process high-quality silicon ingots and wafers with advanced technologies. The new subsidiary, incorporated on April 20, 2025, will focus on the solar cell segment. It has an authorised share capital of Rs 1 million. The entire paid-up share capital, comprising 1,00,000 equity shares of Rs 10 each, will be held by Premier Energies Limited, making it a…
Reliance Industries Limited (RIL) has commissioned its first solar photovoltaic (PV) module manufacturing line at its 5,000-acre site in Jamnagar, Gujarat. Work is progressing on battery storage and hydrogen production facilities. The initial solar module capacity is 10 GW per year, expandable to 20 GW. A 1 GW heterojunction (HJT) solar module line is operational, with modules rated up to 720 watt-peak. Reliance is also setting up 30 GWh of battery manufacturing, beginning with a…
WorldOne Energies has launched a 1.2 GW solar module manufacturing line to produce its Supreme Series n-type TOPCon monocrystalline bifacial modules. These modules range from 525 Wp to 650 Wp and are built with 144 or 156 half-cut cells. The new line is designed for speed and efficiency. According to the company, it operates 33 percent faster than standard Indian lines. This helps boost throughput and reduce lead times. The facility also includes India’s largest…