New Delhi-based solar module manufacturer Gautam Solar has announced it will expand its annual solar module manufacturing capacity to 2 GW.

The company hopes to augment the module manufacturing capacity by 2024.

In pursuit of this goal, Gautam Solar has committed to investing approximately ₹1.5 billion (~$18 million) in its manufacturing infrastructure during the upcoming year.

In a statement, the company said the increased manufacturing capacity will be dedicated to producing cutting-edge N-type TOPCon and Mono-PERC solar modules.

These modules will be primed for both the domestic market and global markets, including the United States and Europe.

Gautam Mohanka, the CEO of Gautam Solar, said, “As we aim to double our capacity by 2024, it will be another step towards achieving our broader pursuit. The fervently dedicated team of experts at Gautam Solar has been working extensively to leverage cutting-edge technologies to create innovative products and strategize solutions to escalate solar module manufacturing domestically. I am optimistic that our growth trajectory will be further catapulted in the years to come.”

In May, Shubra Mohanka, Director, Gautam Solar, in an interview with Mercom, spoke about indigenizing the technology used in solar module manufacturing and creating products that cater specifically to the unique market conditions in India.

Gautam Solar currently operates four manufacturing facilities in Haridwar.

Recently, Servokon Systems, a power equipment manufacturer, said it plans to invest over ₹2 billion (~$24 million) in a new manufacturing facility for solar modules and transformers in Hapur, Uttar Pradesh.

India’s solar module manufacturing capacity has witnessed a tenfold growth, from 2.4 GW per annum in 2014 to 25 GW annually in 2023. The country has installed an indigenous solar cell manufacturing capacity of 6 GW/annum over the past nine years, according to Union Minister for Power and New & Renewable Energy R. K. Singh.