Alpex Solar Ltd. of Greater Noida announced that it will increase the capacity of its PV modules to 2.4 GW by the year 2026. The freshly purchased land parcel of the corporation, located in Kosi Kotwan, Mathura, Uttar Pradesh, will host the greenfield project. Furthermore, the Board granted permission to the managing director of the company to investigate the company's venture into gigawatt-scale solar cell manufacturing. The Kosi Kotwan factory, which is a greenfield, is where the business plans to put up the solar cell line.

 

The Board and the appropriate authorities will be notified once the negotiations are more solidified. They are now at an advanced level. Sehgal stated, "Internal accruals, extra financing from banks and financial institutions, and equity infusion will cover the capital investment."

 

The revenues from Alpex Solar's initial public offering (IPO) were intended to build an aluminum frame manufacturing facility and boost the company's solar PV module capacity from 750 MW to 1.2 GW. With the completion of the remaining 300 MW in the current location over the next three months, the company's continued expansion of solar PV modules has reached the 900 MW capacity mark, meaning that by Q3 of FY 2025, the overall capacity will have reached 1.2 GW.

 

The company split the project into three phases to produce aluminum frames. Phase 1 was successfully finished, and the Greater Noida factory is currently functioning. The remaining two phases of the greenfield expansion plan are being implemented at the recently purchased land parcel in Kosi Kotwan due to space constraints, according to Alpex Solar.

 

The Uttar Pradesh Industrial Development Authority (UPSIDA) had sold Alpex a 7-acre (25,873.27 sq.m.) plot of land in Kosi Kotwan, Mathura, Uttar Pradesh, earlier this year so that Alpex could construct the second production facility.

 

This is the land where the company plans to build its 1.2 GW solar PV module greenfield factory. Lending and internal accruals will be used to finance the new project. A 17,846.63 square meter plot of land in Kosi Kotwan is now being acquired by the corporation in order to eventually build its third factory. This property borders the business's current holdings.