Indian PV module maker Goldi Solar eyes 5 GW of production capacity

Indian solar module maker and EPC services provider Goldi Solar Pvt Ltd on Monday announced plans to expand its manufacturing capacity to 2.5 GW by the end of the 2021/22 fiscal year and potentially reach 5 GW in the future.

The Gujarat-based company intends to add 2 GW of photovoltaic (PV) production capacity at its new facility on the outskirts of the city of Surat, seeking to meet growing demand. The company currently has the ability to make 500 MW of solar modules annually.

The expansion will be carried out in two phases of 1 GW each, with the first one set to go live by the end of this year’s second quarter ending September 2021. The remaining capacity will become operational by the closing quarter of the fiscal year in March 2022.

"The facility expansion comes amid growing global demand for better technology and value from the solar panels. We also hope to penetrate newer markets with even higher quality modules [..]," said director Bharat Bhut.

The Indian firm also laid out ambitious plans to expand further its manufacturing capacity and reach 5 GW. Its plan is to set up a “multi-gigawatt solar cell manufacturing line and produce raw material used in solar modules.

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