Manufacturer of solar modules Gautam Solar announced that it would increase its capacity to produce 2 GW of solar modules annually by the end of CY24. The company intends to spend approximately Rs 150 crore on its manufacturing system during the year.
We want to double our capacity by 2024, so that will be a step closer to realising our larger goal. In the upcoming years, our growth trajectory will be further accelerated, according to Gautam Mohanka, CEO of Gautam Solar.
It further said that the increased capacity will be used to produce high-efficiency solar modules that were approved in accordance with ALMM and BIS standards for both the domestic market and outside markets, including those in the US and Europe. The business said that by expanding, it will be able to further lessen India's reliance on imported solar modules.
Gautam Solar’s products are already being used in a variety of applications, including rooftop solar projects, utility-scale solar projects and C&I Solar plants, both by government agencies and private entities. This major expansion will help the company to further reduce India’s reliance on imported Solar Modules and is a testament to the company’s commitment to the ‘Make in India’ campaign.