Solar panel manufacturer Cosmic PV Power Ltd has announced that it has secured orders valued at roughly INR 600 crore from Zetwerk Manufacturing Businesses for the supply of solar modules.
With this development, the company has formally entered the Independent Power Producer (IPP) market. Previously, Cosmic PV primarily served mid-sized EPC companies and select OEMs, but this order marks a strategic move toward larger utility-scale opportunities.
According to the company’s leadership, this order has triggered strong interest from several major IPPs, with multiple large inquiries already coming in. Management anticipates closing several additional major contracts in the coming months, setting the stage for accelerated growth over the next one to two years.
Jenish Ghael, Chairman of Cosmic PV Power, expressed satisfaction with the milestone, attributing the achievement to the team’s sustained efforts and strong customer engagement. He noted that dispatches for the Zetwerk order have already begun, and the company aims to ensure timely and seamless execution.
Shravan Gupta, Managing Director of Cosmic PV Power, said the order demonstrates the company’s ability to handle large-scale supply commitments and highlights its readiness to compete in the utility and IPP segments. With established capacity and a growing project pipeline, Cosmic PV is emerging as a key player to watch in the coming financial years.
However, the company clarified that the transaction value will be adjusted for GST, as the purchase order was received in June 2025. GST on renewable energy equipment was reduced from 12 percent to 5 percent, effective September 22, 2025.
In just two years, Cosmic PV Power has become one of India’s fastest-growing renewable energy manufacturers, expanding from a 200 MW module producer to a 3 GW integrated solar module gigafactory. Of this capacity, 1.3 GW is already listed under the Approved List of Models and Manufacturers (ALMM), with the remaining capacity currently under evaluation.
The company recently secured 60 acres of land in Narmadapuram, Madhya Pradesh, allocated by the state government, to establish a 4 GW solar cell manufacturing line.
Cosmic PV has also signed an MoU with Indygreen Technologies to develop a 2 GW lithium-ion battery production line for Battery Energy Storage Systems (BESS). The supply and commissioning of this new line are slated for completion by March 2026, marking Cosmic PV’s formal entry into India’s rapidly expanding energy storage sector.
With the upcoming cell line and the newly announced BESS facility, Cosmic PV Power is positioning itself as a vertically integrated clean energy company spanning the full solar and energy storage value chain. Through these swift expansions, the company aims to strengthen India’s renewable manufacturing landscape and support the country’s broader goals of energy independence and net-zero emissions.
