Entrepreneur and investor Nikhil Kamath has invested ?137.5 crore in Goldi Solar, a solar PV module manufacturing company. The investment will enable Goldi Solar to expand its production and position India as one of the world's leading global renewable energy manufacturing hubs, stated a press release.
“Goldi Solar nearly tripled its Solar PV Module manufacturing capacity from 3 GW to 14.7 GW in the last 12 months and is also developing its solar cell manufacturing expansions in Surat, Gujarat. The company will continue to introduce high-efficiency solar PV modules and cells incorporating emerging technologies to meet India’s growing clean energy needs,” according to the release.
"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,” said Nikhil Kamath.
The investment comes amid rapid growth in domestic solar demand, supported by government targets of 280 GW of solar power by 2030, import duties on foreign modules, and incentives for local manufacturers under the Production Linked Incentive scheme.
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