Grew Solar Raises INR 1,050 Crore Led by Bay Capital to Expand Cell Manufacturing Capacity

Grew Solar, an integrated solar PV module manufacturer, has successfully raised INR 1050 Crores in a new funding round led by Bay Capital Investment, with participation from other two institutional investors. This latest capital infusion follows the company’s earlier INR 300 crores funding rounds from marquee investors, including Vijay Kedia and Rohit Kothari of GeeCee Holdings, underscoring continued confidence in its growth trajectory and strategy.

The new funds will be utilised to strengthen ongoing operations, support strategic expansion initiatives, and accelerate the company’s journey toward becoming a leading fully integrated solar manufacturer. A significant portion of the investment will be directed toward expanding the solar cell manufacturing facility, increasing total cell manufacturing capacity from the planned 3 GW to 8 GW.

Speaking on the development, Vinay Thadani, CEO and Director, Grew Solar said, “This investment strongly endorses our manufacturing capabilities, growth vision and commitment to building a globally competitive solar manufacturing ecosystem from India. With this capital, we are well positioned to accelerate our expansion, improve operational efficiency and further strengthen our technology and scale.”

He further added, “As India advances toward its Make in India goals, Grew Solar remains committed to deploying technology-driven facilities and empowering the Indian workforce with future-ready skills. This initiative will help position India as a reliable global source of technical expertise and high-quality solar modules, while contributing meaningfully to the nation’s renewable energy targets.”

The company is significantly boosting its manufacturing capacity with major expansions underway at both its Dudu and Madhya Pradesh facilities to support integrated, end-to-end solar production.