Goldi Solar to invest Rs 5,000 crore to raise module manufacturing capacity to 6 GW: MD Ishver Dholakiya

Representative Image (Image: Reuters)

Gujarat-based Goldi Solar is planning to invest Rs 5,000 crore by 2025 to expand its module manufacturing capacity to 6 gigawatt, the company's Managing Director Ishver Dholakiya said on Monday.

At present, the total module manufacturing capacity of its plants in Pipodara and Navsari, Gujarat is 2.5 gigawatt (GW), Dholakiya told reporters during a press conference here.

"We have plans to infuse over Rs 5,000 crore as part of expansion plans to increase module manufacturing from 2.5 GW to 6 GW," he said while launching HELOC Plus (high-efficiency low on carbon) module series with Heterojunction technology.

The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, Dholakiya said.

The investment will be made by the year 2025, he said, adding his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500.

"We plan to hire 25 per cent of the workforce from the local tribal regions adjoining its proposed manufacturing facility. We will conduct a three-month certification programme at a skill development centre," he said.

Goldi Solar Director Bharat Bhut said, "We intend to form dedicated product development and R&D team, which will accelerate the creation of high-efficiency models. We are the first Indian manufacturer to announce a 710 Wp module based on the latest HJT technology and we are confident that our latest offering HELOC? Plus, will be a game-changer in the industry".

The investment plan includes setting up cell manufacturing units, which the company plans to begin from the April-June quarter of 2023-24. After starting cell manufacturing, the cell manufacturing capacity will be increased to 5 GW subsequently, he added.