Gujarat-based solar panel manufacturer, Goldi Solar, has announced its ambitious expansion plans to invest over Rs 5,000 crore in scaling up its module manufacturing capacity. The company aims to increase its capacity to six gigawatts (GW), a significant upgrade from its current capacity of 2.5 GW. This expansion is part of Goldi Solar’s strategy to strengthen its presence in the renewable energy sector.
In addition to expanding its module manufacturing capacity, Goldi Solar plans to diversify its business by venturing into auxiliary production, including the manufacturing of aluminium frames, junction boxes, back sheets, and other related components. The company also intends to establish a cell manufacturing unit and further increase its manufacturing capacity to five GW.
Goldi Solar has set a target to complete these expansion plans by 2025. As part of its growth strategy, the company aims to create employment opportunities for over 4,500 individuals from the local regions across various functions. By increasing its workforce to over 5,500 employees by FY25, Goldi Solar aims to contribute to the economic development of the region. To support its expansion and contribute to skill development in the solar manufacturing space, Goldi Solar has partnered with L&T Public Charitable to provide training programs.
Currently, Goldi Solar operates two module manufacturing plants located in Pipodara and Navsari districts of Gujarat. These facilities have been instrumental in the company’s success in the solar industry.
Goldi Solar’s substantial investment in expanding its manufacturing capacity and diversifying its product offerings showcases its commitment to renewable energy and sustainability. By positioning itself for growth and investing in local talent, the company aims to make significant contributions to the solar manufacturing sector while driving economic progress in the region.