Goldi Solar, a renewable energy company, has declared the completion of a landmark financing round with a total amount raised in excess of Rs 1,422 crore. The round was primarily led by Havells India Ltd and is considered to be one of the largest private investments in India's solar manufacturing sector.
Other than a direct capital investment, the formation of a local consortium of very wealthy individuals, institutional, strategic, and family office investors has also invigorated the cash infusion.
There are loads of notable investors that include Investor Ambit Global Private Client, Nikhil Kamath (Co-founder, Zerodha), Shahi Exports Pvt Ltd, SRF Transnational Holdings Ltd, Karmav Real Estate Holdings LLP, NSFO Ventures LLP, and Godwitt Construction Pvt Ltd.
Market sources informed that Havells invested approximately Rs 600 crore, whereas Kamath committed around Rs 140 crore. This deal was facilitated by SBI Capital Markets Ltd, while Saraf and Partners, as legal counsel, ensured strong governance and strategic control.
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The money will be spent on ramping up Goldi Solar's manufacturing capacity, deepening the company's solar cell production capabilities, and speeding up the adoption of innovative high-efficiency solar technologies.
Goldi Solar’s Founder and Managing Director, Ishver Dholakiya, shared that the collaboration will” power the following solar manufacturing and innovation stages, creating fresh standards not only in governance, sustainability, and performance but also in these areas.”
Goldi Solar, based in Surat, Gujarat, has quickly increased its solar PV module output from 3 GW to 14.7 GW in just one year and is going to produce a 1.2 GW solar cell plant, thus, consolidating its status as a major energy transition player in India.
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