Pahal Solar Secures Top DNV Bankability Rating, Expands Integrated Solar Manufacturing Capacity

Pahal Solar, an Indian solar module manufacturer, has announced that it has been awarded a Top Rating for bankability by DNV, one of the world's foremost independent risk assurance and certification bodies. The rating places Pahal Solar among a select group of module manufacturers globally recognised by financiers, EPC players and developers as a dependable, bankable choice for utility-scale and rooftop solar investments. 

The DNV bankability rating is based on a rigorous assessment of a manufacturer's financial stability, manufacturing quality systems, technology track record and long-term reliability factors that directly influence lending and investment decisions on solar projects. Achieving a top rating gives banks, NBFCs and project developers greater confidence when financing projects that use Pahal Solar modules. 

Paresh Shingala, Chairman at Pahal Solar, said, “This recognition is a validation of the discipline our entire team has brought to manufacturing, testing and after-sales commitment since day one. Quality was never a department at Pahal Solar — it has been the foundation the company was built on.”  

The company established in 2016, has grown into a 3 GW AI-integrated, fully automated solar module manufacturing facility in Surat, producing high-efficiency N-Type TOPCon Dual glass bifacial modules. Backed by a robust in-house quality infrastructure, the company conducts comprehensive testing of modules and critical materials throughout the manufacturing process. Each production batch undergoes stringent performance and durability checks prior to dispatch, ensuring consistent product reliability and reinforcing the quality standards that underpin the company’s latest DNV rating. 

Pahal Solar has also announced a significant capacity expansion at its Surat facility, further strengthening its backward integration across the solar module value chain. The expansion will increase its module manufacturing capacity to 3 GW, alongside 2.4 GW of solar cell capacity and 3 GW each of aluminium frame, ribbon and EPE (encapsulant) capacity. Ribbon production has already commenced at the facility.

The expansion is designed to give Pahal Solar greater control over critical raw materials and components, strengthening quality consistency, supply reliability, and cost competitiveness as demand for domestically manufactured, bankable modules continue to rise across India's utility, commercial, and government-backed solar programmes.