GREW Solar, part of the Chiripal Group and a leading solar PV manufacturer, announced on Monday that it has raised ₹300 crore from a group of investors, including prominent investor Vijay Kedia and Rohit Kothari of GeeCee Holdings.
Purpose of the Funding
The company stated that the funds will be deployed to develop new solar products, enhance technological infrastructure, and drive capacity expansions. This capital infusion is expected to strengthen GREW Solar’s position in India’s rapidly growing solar energy sector.
Expansion Plans
With the fresh investment, GREW Solar plans to establish a 3.0 GW solar PV cell manufacturing plant at Narmadapuram, Madhya Pradesh, initially. By the end of 2026, the company aims to scale this facility to 8.0 GW, enabling backward integration and boosting operational efficiency.
Operational Milestones
- In FY23, GREW Solar launched M10 modules of up to 550 Wp and commissioned 1.2 GW of PV module manufacturing at its Dudu, Rajasthan plant.
- As of 2025, operational capacity at the Dudu facility has reached 3.0 GW, producing high-efficiency M10 TOPCon modules of up to 590 Wp.
- The Dudu plant is currently being expanded to a total capacity of 11.0 GW, reflecting the company’s ambition to become a major player in India’s solar manufacturing ecosystem.
Outlook
The strategic funding and planned expansions are expected to boost GREW Solar’s production capabilities, strengthen its technological edge, and support India’s renewable energy goals.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.