Greater Noida-based manufacturer Alpex Solar is making a significant move into vertical integration with a planned investment of ₹642 crore (approximately $76 million) to establish a new 1.6 GW solar cell manufacturing facility. The upcoming plant will be located in Mathura, Uttar Pradesh, marking the company’s expansion from its current focus on solar module and aluminium frame production.
Phased Expansion on UPSIDA-Acquired Land
The project will be developed on a 7-acre parcel of land acquired from the Uttar Pradesh Industrial Development Authority (UPSIDA). According to official filings, Alpex Solar will execute the expansion in three distinct phases. The initial 500 MW of solar cell capacity is slated to become operational by October 2025. The facility is expected to reach 1 GW of capacity by April 2026, with the full 1.6 GW operational by September 2026. In addition to the cell plant, the company is also developing a new 1.2 GW solar PV modules production line at the same site, substantially increasing its current 450 MW capacity.
A Strategic Leap Towards Integrated Solutions
Funding for this ambitious project will be sourced through a combination of bank financing, internal resources, and equity, including a portion of the ₹745 million raised during its initial public offering (IPO) earlier this year. Ashwani Sehgal, Managing Director of Alpex Solar, described the move as a pivotal moment for the company. “This is the biggest initiative taken by us since our inception and intends to put us in the next orbit regarding product offerings,” he stated. Sehgal emphasized that the foray into solar cells will “fortify our integrated solutions vision,” which already encompasses modules, frames, EPC services, and IPP expertise.
Bolstering India’s Domestic Solar Ecosystem
This major investment is set to create local jobs and bolster the regional economy while advancing India’s green technology sector. By manufacturing a core component of the solar PV supply chain domestically, Alpex Solar aims to enhance its supply chain efficiency and improve its competitive edge in the rapidly expanding solar market. The expansion signals strong confidence in the long-term trajectory of India’s renewable energy transition, as this investment in solar cell production marks a significant step toward achieving national climate targets and energy self-reliance.
Alpex Solar to Build 1.6 GW Solar Cell Plant in Mathura
- Alpex Solar to invest Rs 642 crore to set up 1.6 GW solar cell capacity – The Economic Times
- Alpex Solar Official Filing – Invest UP
- Alpex Solar to Invest ₹6 Billion in 1.6 GW Solar Cell Manufacturing Facility – Mercom India
- Alpex Solar: Building an Integrated Solar Powerhouse – Value Educator
- Alpex Solar to Set Up 1.6 GW Solar Cell Plant in Uttar Pradesh – Energetica India
- Alpex Solar to invest Rs 642-cr to set up 1.6 GW solar cell capacity – Projects Today
- Alpex Solar to build 1.6GW solar cell plant in India – PV Tech
