Goldi Solar, India’s largest solar photovoltaic PV module manufacturer has received an incredible investment of Rs. 137 Cr from Zerodha’s co-founder and investor Nikhil Kamath. This capital will support the company’s expansion into solar cell production and help the scaling further. 

The investor and entrepreneur, Nikhil Kamath said in a statement, “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition”.

This Surat-based company, founded in 2011 by Ishverbhai Dholakia, is one of the fastest scaling players in India’s renewable energy ecosystem. The idea is to reduce India’s reliance on imported solar equipment, since India’s solar industry is being bolstered by import duties on foreign modules and incentives under the Production Linked Incentive (PLI). It aims to build a robust domestic supply chain. Now, the company aims to triple its PV module capacity from 3 GW to 14.7 GW. The investments came through amidst building large-scale solar cell manufacturing facilities in Gujarat, aligning with New Delhi’s ambition to install 28-GW of solar capacity by 2030. The next phase is focused on introducing high efficiency modules and advanced cell technologies- in both domestic, and export markets.

Subscribe to our website for more such Funding News NOW!