Alpex Solar Limited has secured an additional order worth Rs 277.19 crore from a leading Public Sector Undertaking (PSU) for the supply of solar panels. This follows a previous order of Rs 247.96 crore from the same PSU earlier this month, bringing the total order value to Rs 525.15 crore.
The Greater Noida-based company, a major manufacturer of solar PV modules, aims to complete the first order by February 2025 and the new order by June 2025. Additionally, Alpex received a separate order worth Rs 33.72 crore from another PSU, scheduled for completion by December 2024.
Alpex Solar specializes in the production of PV modules using monocrystalline and polycrystalline cell technologies, offering a range of solar energy solutions, including engineering, procurement, and construction (EPC) services for AC/DC solar pumps in both surface and submersible categories.
Commenting on the latest order, Alpex Solar’s Managing Director, Mr. Ashwani Sehgal, stated, “This new order of Rs 277.19 crore from a leading PSU, following orders worth Rs 281.68 crore just a fortnight ago, reflects our commitment to delivering top-tier solar solutions. India’s move towards green energy is vital for achieving its net-zero emissions goal by 2070, and solar panels play a critical role in reducing greenhouse gas emissions.”
India has witnessed a 396% increase in its installed non-fossil fuel capacity over the past eight years, reaching more than 198.75 GW as of March 2024. The country is now the 4th largest globally in renewable energy capacity, with an ambitious target of 500 GW of non-fossil fuel-based energy by 2030.
In addition to these developments, Alpex Solar has announced its entry into solar cell manufacturing, with plans to establish a 1.6 GW capacity plant in Kosi Kotwan, Mathura. The project, estimated at Rs 642 crore, will be completed in three phases, with the first 500 MW expected by October 2025 and full capacity by September 2026.
Alpex Solar has also recently formed a subsidiary, Alpex GH2 Private Ltd (AGPL), to venture into the green energy business, further positioning itself as a significant player in India’s renewable energy landscape.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
