Hardip Singh, Chief Working Officer, Grew Solar
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Solar module maker Grew Solar has accomplished the land acquisition course of to set up a 8 gigawatt (GW) ingot and wafer manufacturing facility in Madhya Pradesh, anticipated to be operational by March of 2028.
Hardip Singh, Chief Working Officer, informed businessline that the ability will probably be situated in Narmadapuram, Madhya Pradesh, the place the corporate is already constructing a 3 GW cell manufacturing unit.
The plans come at a time when the Ministry of New & Renewable Power (MNRE) has proposed to embody photo voltaic wafers and ingots beneath the Authorized Listing of Fashions and Producers (ALMM) from June 1, 2028, imposing native sourcing of those elements for Indian photo voltaic module producers.
Singh insists that Grew Solar started engaged on constructing a neighborhood ingot wafer unit even earlier than the notification from MNRE. “When the corporate was fashioned itself we had a aim of backward integration up to wafers and we have been additionally one of many awardees of the PLI incentive for ingot wafer cell and module,” he mentioned.
Different plans
In the meantime, Grew Solar can also be engaged on increasing its module manufacturing unit in Rajasthan from the present 6.5 GW to 11 GW by FY27.
On the cell manufacturing unit in Madhya Pradesh, Singh mentioned that the preliminary 3 GW capability must be operational by subsequent month whereas the corporate can also be engaged on including one other 5GW capability by February 2027.
When it comes to financials, Singh mentioned that Grew Solar closed FY25 with a income of about ₹1,400 crore and has greater than doubled its topline since then in FY26, with out sharing actual figures.
Given the enlargement in manufacturing throughout cells and modules deliberate this 12 months, he mentioned, the corporate is anticipating one other 2x leap this 12 months.
Consolidation is close to
On the potential for an overcapacity for photo voltaic in India, Singh talked about that like every trade which is in a ‘dawn’ section, the market is crowded with many gamers, however a interval of consolidation is on the playing cards.
“The primary spherical of consolidation will occur in 2027, when gamers who do not need cell strains won’t be able to compete in the market. Equally, a second spherical of consolidation will occur in 2028, when ingot wafer integration necessities kick in. Clients and critical unbiased energy producers (IPPs) are realising this now and are participating with gamers who’ve long-term plans proper up to ingot wafer,” he mentioned.
As for the corporate’s market presence, Singh mentioned that majority of Grew Solar’s gross sales come from IPPs in markets like Rajasthan and Gujarat however talked about that with the expanded capability it can additionally look to enhance its play in the retail rooftop photo voltaic market.
He added that the corporate additionally has some significant plans in the battery storage and knowledge sector domains, however these plans stay at an early stage.
Printed on Might 15, 2026
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