Navitas Solar plans to invest Rs 10,000 crore over the next five years to expand its solar manufacturing, battery storage and renewable power generation businesses across Gujarat and Maharashtra.
The investment will cover manufacturing of ingots, wafers, high-efficiency solar cells and modules, along with battery energy storage systems (BESS) and solar power projects.
The company is developing a 2.4 GW solar cell manufacturing facility at Sisodara in Gujarat. The first phase will involve an investment of about Rs 1,200 crore, with the facility targeted to become operational by July 2027.
Navitas Solar is also developing pilot lines for ingot and wafer manufacturing as part of its backward integration plans.
5 GWh Battery Facility Planned In Gujarat
The company plans to set up a 5 GWh battery energy storage facility in Vadodara, marking its expansion into energy storage.
In Maharashtra, Navitas Solar is developing two solar parks with capacities of 200 MW and 25 MW under engineering, procurement and construction (EPC) and independent power producer (IPP) models.
The expansion builds on the company's existing 3 GW annual solar module manufacturing capacity. Its module portfolio includes TOPCon and bifacial Mono PERC technologies.
Navitas Solar also operates a solar encapsulant business through Navitas Alpha and undertakes renewable energy projects through subsidiaries including Navitas Planet. Its EPC business is also expanding into Southern Africa for utility and IPP-scale projects.
The five-year investment programme will expand the company's operations across upstream solar manufacturing, module production, energy storage, project execution and renewable power generation.