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Alpex Solar has secured INR 260.17 crore via a preferential equity and warrant issue to accelerate its expansion in the solar energy sector. The company plans to increase its solar module capacity from 1.2 GW to 3.6 GW and establish a solar cell capacity of 1.6 GW by FY27. Trial production of solar cells is scheduled soon, while a 12,000 MTPA aluminium frame facility is also set to be operational. The capital infusion will help Alpex achieve full-scale production across its solar cells, modules, and aluminium frames, supporting its vision of becoming an integrated manufacturer.
Alpex Solar, a manufacturer of solar PV modules, recently announced that it has raised INR 260.17 crore through a preferential issue of equity shares and warrants. The company stated that this strategic capital infusion will support its ambitious expansion plans, positioning it as an integrated solar cell and module manufacturer. Advertisement
The company intends to triple its solar module capacity from the current 1.2 GW to 3.6 GW by FY27. Trial production of solar cells is expected to begin soon as part of the first phase of this expansion. In addition, Alpex Solar is targeting a solar cell capacity of 1.6 GW alongside a fully operational 12,000 MTPA aluminium frame manufacturing facility by FY27.
Ashwani Sehgal, Managing Director of Alpex Solar, mentioned that the capital raised will allow the company to complete ongoing expansion projects and achieve full-scale production in solar cells, modules, and aluminium frames. Phase 1 of the 1.6 GW solar cell project is expected to be commissioned by FY26, with commercial production starting for 500 MW, in parallel with the aluminium frame plant.
Currently, Alpex Solar operates six manufacturing units located across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh. The recent fundraise is part of the company's broader effort to strengthen its footprint in India's growing solar energy sector.
Source PTI
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