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					</table><p>New Delhi-based solar module manufacturer <a href="https://gautamsolar.com/" target="_blank" rel="noopener">Gautam Solar</a> has announced plans to expand its solar module manufacturing capacity to 5 GW by 2025 at its facility in Bhiwani, Haryana.</p>
<p>This expansion will occur in three phases. The first phase is set for completion in November 2024, followed by the second and third phases in January and April 2025, respectively.</p>
<p>Additionally, the company has outlined a ₹10 billion (~$118.96 million) cell expansion plan with further growth funded through an Initial Public Offering (IPO), anticipated in the next 12-18 months.</p>
<p>The technology used in the cell facility will be N-type TopCon.</p>
<p>The IPO will drive the company’s plan to set up a 2 GW solar cell manufacturing plant to bolster solar module production and achieve the 5 GW target within the stipulated time.</p>
<p>A spokesperson for the company said Gautam Solar is evaluating the suitability of locating its solar cell plant in states with a good manufacturing ecosystem and infrastructure.</p>
<p>In 2024, Gautam Solar <a href="https://www.mercomindia.com/gautam-solar-ventures-investment" target="_blank" rel="noopener">announced</a> a foray into solar cell manufacturing by investing ₹10 billion (~$119.4 million) in a 2 GW solar cell facility. The company aims to include its solar cells in the Approved List of Models and Manufacturers (ALMM).</p>
<p>The solar cell facility will address the growing demand for domestic content requirement panels, a requisite for government-backed subsidy projects that mandate locally manufactured components.</p>
<p>According to Mercom India Research’s State of Solar PV Manufacturing in India 1H 2024 Report, India <a href="https://www.mercomindia.com/india-module-manufacturing-capacity-2024" target="_blank" rel="noopener">added</a> 11.3 GW of solar modules and 2 GW of cell manufacturing capacity in the first half of 2024. The capacity additions were driven by a robust solar project pipeline of 132.7 GW planned between 2024 and 2026 and the reinstatement of the ALMM order.</p>


Gautam Solar Announces Plans to Expand Module Capacity to 5 GW


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					</table><p>New Delhi-based solar module manufacturer <a href="https://www.gautamsolar.com/" target="_blank" rel="noopener">Gautam Solar</a> has announced a foray into solar cell manufacturing by investing ₹10 billion (~$119.4 million) in a 2 GW solar cell facility.</p>
<p>The company aims to include its solar cells in the Approved List of Models and Manufacturers (ALMM).</p>
<p>The company plans to manufacture N-type TopCon technology solar cells at the proposed facility.</p>
<p>Gautam Solar said the solar cell facility will address the growing demand for domestic content requirement (DCR) panels, a requisite for government-backed subsidy projects that mandate locally manufactured components.</p>
<p>Mercom earlier <a href="https://www.mercomindia.com/shortage-of-india-made-projects-with-dcr-mandate" target="_blank" rel="noopener">reported</a> how India&#8217;s ambitious push for solar energy is facing a significant hurdle from a shortage of domestically produced solar modules.</p>
<p>The company has secured a 60-acre land parcel in Bhiwani, Haryana, to manufacture solar panels and raw materials.</p>
<p>This expansion complements the company&#8217;s existing solar module manufacturing plant in Haridwar and the upcoming module manufacturing expansion in Bhiwani.</p>
<p>Gautam Mohanka, CEO of Gautam Solar, said, &#8220;Our forthcoming 2 GW solar cell manufacturing plant is aligning with MNRE&#8217;s guidelines on promoting indigenous manufacturing of solar cells. We are further strengthening our manufacturing by integrating solar cell production into our existing operations.&#8221;</p>
<p>Last year, the company <a href="https://www.mercomindia.com/gautam-solar-to-expand-gw" target="_blank" rel="noopener">announced</a> plans to expand its annual solar module manufacturing capacity to 2 GW by 2024. According to Mercom India&#8217;s Research, the company&#8217;s current total production capacity is 1 GW, consisting of 150 MW for multicrystalline, 700 MW for monocrystalline, and 150 MW for bifacial modules, with 710 MW of this capacity listed under the ALMM.</p>
<p>According to Mercom&#8217;s <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-2024" target="_blank" rel="noopener">State of Solar PV Manufacturing in India 2024</a> report, India added 20.8 GW of solar module capacity and 3.2 GW of solar cell capacity in 2023.</p>


Gautam Solar Ventures into Solar Cell Manufacturing with ₹10 Billion Investment


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					</table><p><strong><a href="https://www.mercomindia.com/maharashtra-tenders-procure-1-92-gw-solar-power" target="_blank" rel="noopener">Maharashtra State Electricity Board (MSEB) Agro Solar Power, a wholly-owned subsidiary of MSEB Holding Company, has floated nine tenders to procure 1.92 GW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana in Maharashtra.</a></strong> The tenders have been floated for 197.78 MW in Akola, 289.38 MW in Jalgaon, 116.65 MW in Jalna, 230.49 MW in Pune, 230.72 MW in Ahmednagar, 147 MW in Buldhana, 289.76 MW in the Nashik, 153.29 MW in the Washim, and 265.05 MW in the Nanded districts of Maharashtra. The last date to submit the bids for all the tenders is November 20, 2023. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/auction-first-offshore-wind-site-february-2024" target="_blank" rel="noopener"><strong>The Ministry of New &amp; Renewable Energy plans to conduct auctions to allocate offshore wind sites along the Tamil Nadu coastline.</strong></a> These projects will generate power for distribution through various avenues, including open access mode, third-party sale, power exchanges, or internal consumption. The National Institute of Wind Energy will administer these auctions. The first zone (B) is expected to be tendered by February 1, 2023. The other zones (E and G) will be auctioned sometime during the next financial year.</p>
<p><a href="https://www.mercomindia.com/sterling-and-wilson-%e2%82%b915-billion-equity-sales" target="_blank" rel="noopener"><strong>Sterling and Wilson Renewable Energy has received approval from its Board of Directors to raise ₹15 billion (~$180.38 million) through issuing a variety of financial instruments.</strong></a> The company said the fundraising will be via equity shares, global and domestic depository receipts, foreign currency convertible bonds, partly convertible debentures, non-convertible debentures, and other instruments that can be converted into equity shares. The company plans to do this in one or more phases through public or private offerings, including qualified institutional placements.</p>
<p><a href="https://www.mercomindia.com/gautam-solar-to-expand-gw" target="_blank" rel="noopener"><strong>New Delhi-based solar module manufacturer Gautam Solar has announced it will expand its annual solar module manufacturing capacity to 2 GW.</strong></a> 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.</p>
<p><a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener"><strong>Bengaluru-based Oorja, a tech startup specializing in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets.</strong></a> The funding round was led by Micelio Fund and Capita-A Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja employs a fusion of physics and machine learning to offer predictive modeling solutions tailored for engineers and designers within the electric vehicle sector. This approach simplifies intricate engineering challenges, expediting the shift towards clean mobility.</p>
<p><a href="https://www.mercomindia.com/smarter-inverters-crucial-from-advanced-solar-modules" target="_blank" rel="noopener"><strong>Technology in the solar industry is rapidly advancing, with larger solar modules with a power rating of 600W+ becoming the new standard.</strong></a> The shift has prompted upgrades in project designs to accommodate these larger modules, which generate more power and necessitate enhancements in all other associated equipment. The demand for high-capacity string inverters, ranging from 250 kW to 350 kW, has surged to meet these design requirements. The recent Mercom India webinar, “Cutting Edge PV Inverters: Optimizing Generation from Advanced Technology Modules,” highlighted the pivotal role that PV inverters play in maximizing energy generation from advanced technology modules in the Indian solar market.</p>
<p><a href="https://www.mercomindia.com/soltec-power-holdings-gains-losses-drop-by-50" target="_blank" rel="noopener"><strong>Solar tracker manufacturer Soltec Power Holdings recorded a net loss of €4.8 million (~$5.05 million) during Q2 2023, a YoY improvement of 50% from a net loss of €9.6 million (~$10.1 million).</strong></a> During the April to June quarter, the consolidated revenues stood at €107.8 million (~$113.5 million), a YoY increase of 40%, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) recorded a loss of €5.6 million (~$5.8 million), a 21.7% YoY improvement. In Q2, revenues from the industrial division amounted to €103.5 million (~$109 million).</p>


Daily News Wrap-Up: Maharashtra Invites Bids to Procure 1.92 GW of Solar Power


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					</table><p>New Delhi-based solar module manufacturer <a href="https://www.gautamsolar.com/" target="_blank" rel="noopener">Gautam Solar</a> has announced it will expand its annual solar module manufacturing capacity to 2 GW.</p>
<p>The company hopes to augment the module manufacturing capacity by 2024.</p>
<p>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.</p>
<p>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.</p>
<p>These modules will be primed for both the domestic market and global markets, including the United States and Europe.</p>
<p>Gautam Mohanka, the CEO of Gautam Solar, said, &#8220;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.&#8221;</p>
<p>In May, Shubra Mohanka, Director, Gautam Solar, in an interview with Mercom, <a href="https://www.mercomindia.com/indigenous-technology-key-solar-manufacturing" target="_blank" rel="noopener">spoke</a> about indigenizing the technology used in solar module manufacturing and creating products that cater specifically to the unique market conditions in India.</p>
<p>Gautam Solar currently operates four manufacturing facilities in Haridwar.</p>
<p>Recently, Servokon Systems, a power equipment manufacturer, said it plans to <a href="https://www.mercomindia.com/servokon-to-manufacture-solar-in-uttar-pradesh" target="_blank" rel="noopener">invest</a> over ₹2 billion (~$24 million) in a new manufacturing facility for solar modules and transformers in Hapur, Uttar Pradesh.</p>
<p>India’s solar module manufacturing capacity has <a href="https://www.mercomindia.com/indias-solar-module-ten-fold-within-a-decade" target="_blank" rel="noopener">witnessed</a> 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 &amp; Renewable Energy R. K. Singh.</p>


Gautam Solar to Expand Annual Module Manufacturing Capacity to 2 GW


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					</table><p>Gradually indigenizing the technology used in solar module manufacturing and creating products that cater specifically to the unique market conditions in India could help India advance towards becoming a manufacturing hub, Shubra Mohanka, Director at <a href="https://www.gautamsolar.com/">Gautam Solar</a>, commented in an exclusive interview on the sidelines of <a href="https://www.mercomindia.com/locally-equipment-manpower-vital-supply-chain">Mercom India Renewables Summit 2023</a>.</p>
<p>Below are some excerpts from the interview:</p>
<p><strong>How does the policy change of ALMM suspension impact you specifically?</strong></p>
<p>The ALMM (Approved List of Models and Manufacturers) protection benefited all manufacturers, including Gautam Solar. We witnessed significant growth and expansion, with plans for capacity increase and vertical integration still in progress. Although the policy reversal is for only one year, time tends to pass quickly, and some level of protection is necessary.</p>
<p>Fortunately, the BCD (Basic Customs Duty) is still in place and provides some support. Additionally, we have established partnerships through free trade agreements with Malaysia and Vietnam, allowing resources to continue trickling in. However, price pressure remains a concern.</p>
<p>As a manufacturer, our primary focus is changing the perception that Indian products are inferior to Chinese. We strive to provide products that are at par, if not better. I don&#8217;t believe the policy reversal will completely destroy the industry.</p>
<p>While it somewhat dampens our spirits, we are still determined to proceed with our plans for capacity expansion and technological advancements.</p>
<p><strong>How do you see the nascent indigenous technology competing with the Chinese technologies over time?</strong></p>
<p>I believe in challenging the perception that our technology is inferior to that of Chinese manufacturers. Let&#8217;s take Gautam Solar, for example. We have filed patents that cater specifically to the unique market conditions in India.</p>
<p>Our country has immense pricing pressure on EPC developers, and projects must be delivered within strict timelines and cost constraints.</p>
<p>We have developed panels with an outward panel frame design to address this, reducing fasteners by half. This innovation significantly reduces labor time and installation costs, which is highly relevant and beneficial for the Indian market.</p>
<p>Furthermore, we have recognized the heavy reliance on Chinese equipment in the industry, which poses challenges regarding service support and technological compatibility.</p>
<p>As a solution, we have embarked on a journey of developing our machines, gradually indigenizing the technology used in solar manufacturing setups. This approach allows us to address the limitations associated with imported Chinese equipment and enhance our service support capabilities.</p>
<p>Our focus as a technical player in the solar industry is to continually invest in research and development, driven by the demands we observe in the market. We are confident in developing unique solutions tailored specifically to the Indian market. While Chinese manufacturers may develop products with a global perspective, we aim to provide India-centric solutions that resonate with developers and EPC players in our country, making a substantial difference.</p>
<p><strong>Could you provide insights into the technology you currently employ for module production, any recent upgrades and the capacity utilization of each technology?</strong></p>
<p>Currently, our main product line involves the production of 550W ten busbar modules, which utilize half-cut technology. However, we have plans to transition to n-type and TOPCon modules by the end of this quarter. One notable aspect we are observing is the increase in efficiencies.</p>
<p>Many companies are moving directly from 10 busbars to 16 busbar modules &#8211; a significant technological leap for n-type and Topcon modules. Interestingly, there seems to be no intermediate option of 12 busbar modules. This technological change is something we are closely considering.</p>
<p>In addition, we are also exploring the potential of HJT technology. Although we haven&#8217;t extensively explored it yet, we are interested in understanding its benefits in terms of efficiency and determining how we can leverage it.</p>
<p>It&#8217;s worth noting that the machines and processes involved in HJT technology may differ significantly, so further investigation is required to assess its viability for our operations.</p>
<p><strong>What factors influenced Gautam Solar&#8217;s decision not to participate in the government&#8217;s supportive initiatives, such as the PLI (Production Linked Incentive) program?</strong></p>
<p>The primary reason for not participating in Tranche 1 and Tranche 2 of the government&#8217;s initiatives was the substantial financial investment required upfront. However, Gautam Solar remains highly interested in the PLI program and is currently focused on independently increasing its production capacity.</p>
<p>Despite the financial aspect, the main challenge that influenced the decision was the dependence on external suppliers for cell technology and equipment. The rapidly evolving nature of cell technology, similar to module technology, raised concerns about the technical feasibility and long-term maintenance.</p>
<p>Gautam Solar has established a dedicated team focused on cells and wafers to address this. The company is actively seeking additional opportunities and is optimistic about potential openings, particularly if Adani does not participate in future tranches.</p>
<p><strong>How do you view the recent trend of increased exports, despite the relatively small numbers? Do you consider this trend sustainable, and is your company looking to export?</strong></p>
<p>We are actively considering the export market and see it as a significant opportunity. The United States&#8217; ban on Chinese solar panels has opened a window of opportunity for Indian manufacturers.</p>
<p>The performance of Indian panels has been well-received, leading to increasing interest in Indian solar panels and factories. The important role played by PM Modi in putting India on a global stage cannot be underestimated.</p>
<p>Foreign leaders have expressed their preference for dealing with Indian manufacturers due to concerns with Chinese suppliers, such as delivery timelines. From a public relations and overall image perspective, even Europe is seeking alternatives to Chinese suppliers and welcoming Indian players. We are participating in events like Intersolar Munich in June, where we have been receiving positive responses and an optimistic outlook.</p>
<p><strong>(Note: Sections of the interview have been paraphrased for better reading. Check out the video for a full chat)</strong><br />
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