Alpex Solar Plans to Increase Photovoltaic Solar Module Capacity to 2.4 GW
The Company informed that the ongoing expansion of solar PV modules has concluded successfully to the extent of 900 MW capacity, and the balance of 300 MW will be concluded in the existing premises in the next three months – leading to a total capacity of 1.2 GW by Q3FY25.
September 04, 2024. By News Bureau
The greenfield project will be installed in the company’s newly acquired land parcel at Kosi Kotwan, Mathura, Uttar Pradesh. Besides, the Board also authorised the Managing Director of the company to explore Company’s foray into solar cell manufacturing in the range of gigawatt capacity.
The company aims at deeper integration with the solar cell foray – building upon its presence in solar PV modules and aluminium frames.
Commenting on the opportunity, Ashwani Sehgal, Managing Director, Alpex Solar Limited, said, “Being one of the oldest and reputed manufacturers of solar modules, we are exploring the foray into solar cell manufacturing. This may afford us multiple advantages, including cost, profitability, and branding, and boost our ability to offer turnkey services to the end user.”
The Company intends to set up a new line of solar cells with a capacity of Gigawatt range at the greenfield Kosi Kotwan plant. “The negotiations are in the advanced stage, and the Board and respective authorities will be informed once they are firmed up. The capital outlay will be met through additional facilities from banks and financial institutions, internal accruals, and equity infusion, " added Sehgal.
At the same time, the company also offered an update on the ongoing projects funded by the IPO proceeds. Alpex Solar aimed to expand its solar PV modules capacity by 750 MW to 1.2 GW per the issue's objectives. Besides, it also raised funds to set-up an aluminium frame production unit.
The Company informed that the ongoing expansion of solar PV modules has concluded successfully to the extent of 900 MW capacity, and the balance of 300 MW will be concluded in the existing premises in the next three months – leading to a total capacity of 1.2 GW by Q3FY25.
please contact: contact@energetica-india.net.
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