Entrepreneur and investor Nikhil Kamath has committed ₹137.5 crore to Goldi Solar, the country’s largest manufacturer of solar photovoltaic (PV) modules. The investment is aimed at reinforcing India’s renewable energy manufacturing ecosystem, reported The New Indian Express.
This fresh capital will support Goldi Solar’s expansion plans and contribute to positioning India as a key player in the global clean energy space.
Over the past year, Goldi Solar has significantly scaled up its manufacturing capabilities, increasing its PV module capacity from 3 GW to 14.7 GW. The company is now focusing on expanding its solar cell production at its Surat facility in Gujarat. It also plans to introduce high-efficiency modules and cells powered by advanced technologies to cater to the surging demand for renewable energy in India.
Commenting on the investment, Kamath said, “India’s renewable energy sector presents a huge opportunity to build world-class companies domestically. Supporting such ventures is essential to accelerating the country’s clean energy transition.”
The investment comes at a time when India’s solar sector is witnessing strong growth, driven by the government’s goal of achieving 280 GW of solar capacity by 2030. Import duties on foreign modules and incentives under the Production Linked Incentive (PLI) scheme are further bolstering demand for locally produced components.
Founded in 2011 by Ishverbhai Dholakia, Goldi Solar has grown into the nation’s leading solar module manufacturer, operating advanced facilities in Surat. After its rapid capacity expansion, the company is now preparing to enter large-scale solar cell manufacturing to cater to both domestic needs and export markets.
