Alpex Solar Ventures into Solar Cell Manufacturing with 1.6 GW Capacity Plant
Alpex Solar, a prominent player in the renewable energy sector, has recently announced its entry into solar cell manufacturing. The company plans to establish a 1.6-gigawatt (GW) capacity plant in Kosi Kotwan, Mathura. This ambitious venture comes at an estimated project cost of Rs 6.42 billion and signifies Alpex Solar’s commitment to expanding its product offerings and advancing its vision for integrated solutions.
Phased Expansion Towards a Sustainable Future
The expansion of Alpex Solar’s manufacturing capabilities will occur in three phases. The first phase, comprising 500 MW, is expected to be fully operational by October 2025. The subsequent two phases, totaling 1.1 GW, are scheduled for completion in April 2026 and September 2026, respectively. This phased approach demonstrates Alpex Solar’s strategic planning and commitment towards ensuring a seamless transition into the solar cell manufacturing sector.
Elevating Product Offerings and Integrated Solutions
Ashwani Sehgal, the Managing Director of Alpex Solar, expressed his excitement about the company’s newest initiative. Sehgal stated that the foray into solar cells represents Alpex Solar’s most significant venture since its inception. By integrating solar PV modules, aluminum frames, EPC services, and IPP expertise, the company aims to provide comprehensive and advanced solutions to its customers. This move aligns with Alpex Solar’s strategic vision of consistent growth and innovation within the renewable energy space.
Sourcing Funding and Expanding Manufacturing Facilities
To bring their solar cell manufacturing vision to fruition, Alpex Solar is leveraging various sources of funding. The company will rely on loan facilities from banks and financial institutions, bolstered by internal accruals and equity infusion. This comprehensive approach reflects Alpex Solar’s strong financial standing and clear determination to invest in renewable energy technologies for a greener, more sustainable future.
Earlier this year, Alpex Solar cemented its commitment to expansion by acquiring a seven-acre land parcel from the Uttar Pradesh Industrial Development Authority. This land will serve as the foundation for not only the solar cell plant but also a separate greenfield facility for 1.2 GW of solar PV modules. By diversifying its manufacturing capabilities, Alpex Solar aims to reinforce its market presence and capture additional opportunities within the dynamic renewable energy sector.
Furthermore, the company has set an ambitious target of achieving a total capacity of 1.2 GW in solar modules by Q3FY25. This signifies their unwavering dedication towards enhancing their capabilities and meeting the growing demand for renewable energy solutions. Additionally, Alpex Solar plans to double its solar PV module capacity to 2.4 GW while expanding its aluminum frame production capacity, solidifying its position as a leader in the clean energy sector.
A Bright Future For Alpex Solar
With its entry into solar cell manufacturing, Alpex Solar is making a bold move towards a more sustainable future. The establishment of a 1.6 GW capacity plant, phased expansion plans, and diversification of product offerings demonstrate the company’s ambition and dedication to clean energy solutions. As Alpex Solar strengthens its manufacturing capabilities, it paves the way for further growth and contributes significantly to the renewable energy landscape of India.
