Increase total capacity to 3.6 GW, enhances Rs 642 Cr solar cell initiative

Alpex Solar will set up a 1.2 gigawatt (GW) solar panel manufacturing plant in Mathura, Uttar Pradesh, with an investment of Rs 110 crore, entirely financed through internal resources and loan facilities. The facility is anticipated to begin operations by FY2026-27, increasing the company’s overall solar module production capacity to 3.6 GW.

The initiative will be incorporated into Alpex Solar’s extensive manufacturing facility in Mathura, which features a Rs 642 crore, 1.6 GW solar cell production plant that is presently in the development stage. The cell plant will be developed in stages, with 500 megawatts (MW) anticipated to be operational by October 2025 and reaching full capacity by September 2026.

The company’s growth initiative is supported by substantial order inflows of Rs 1,555.03 crore for FY26 and impressive Q1 FY26 results, featuring a consolidated net profit of Rs 42.29 crore and a 396 percent increase in revenue compared to the prior year. Financial support for current projects will be sourced from a combination of bank loans, internal resources, and equity fundraising, which includes Rs 261.16 crore through the preferential allotment of equity and warrants.

Alpex Solar presently has six production facilities in Greater Noida, Kosi-Kotwan, and Madhya Pradesh. The forthcoming projects bolster its strategy to expand capacity, back India’s renewable energy goals, and enhance its standing in the solar module and cell production sector.