Alpex Solar Raises Rs 260 Cr To Expand Cell, Module Capacity
Capital infusion of Rs 260 crore to drive Alpex Solar’s expansion into integrated solar cell, module, and aluminium frame production
Alpex Solar, an Indian solar PV module manufacturer, has successfully concluded a preferential issue, raising Rs 260.17 crore. The capital infusion, generated through the allotment of 21,46,600 equity shares and warrants, will support the company’s strategic expansion plans and its goal of becoming an integrated solar cell and module manufacturer.
The preferential issue attracted participation from prominent investors and funds, including those with prior exposure to the renewable energy sector.
Alpex Solar aims to triple its solar module capacity from 1.2 GW to 3.6 GW by FY2026–27, while the first phase of its solar cell production, with a capacity of 1.6 GW, is scheduled to commence shortly. In addition, the company plans to bring its 12,000 MTPA aluminium frame manufacturing facility fully online.
Commenting on the development, Mr Ashwani Sehgal, Managing Director of Alpex Solar, said, “This fundraise marks a pivotal milestone in Alpex Solar’s journey towards vertical integration and manufacturing excellence. With this capital infusion, we are well-positioned to complete our ongoing expansion and achieve full-scale production across solar cells, modules, and aluminium frames. We expect Phase 1 of our 1.6 GW solar cell project, with 500 MW of commercial production, alongside the aluminium frame plant, to be commissioned in FY26.”
The company currently operates six manufacturing units across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh, with rapid construction under way at the Kosi-Kotwan facility as part of its expansion programme. Five additional units are planned across these regions to bolster production capabilities.
On the commercial front, Alpex Solar has recently secured three major EPC and product orders worth Rs 1,069 crore from clients including CMPDIL, a subsidiary of Coal India, and the Haryana Renewable Energy Development Agency (Hareda). The company’s total order book for FY26 now stands at Rs 1,278.84 crore, highlighting robust demand for PV modules, solar pumps, and related products.
Alpex Solar’s latest fundraise, and capacity expansion underscore the company’s ambitions to scale production and strengthen its position in India’s rapidly growing solar market.
