The planned investment will support the company’s expansion across the solar value chain, including ingots, wafers, high-efficiency solar cells and modules, alongside battery energy storage systems (BESS) and renewable power generation, the company said in a statement.
The investment roadmap marks a significant step in Navitas Solar’s evolution from a solar module manufacturer into a more deeply integrated clean energy company, according to a release from the Gujarat-based company.
The company said it intends to strengthen its presence across both the upstream and downstream segments of the renewable energy value chain, with a focus on building domestic manufacturing capabilities, enhancing supply-chain resilience, and participating in the development of large-scale renewable energy asset.
Navitas Solar said it is already progressing with a 2.4 GW solar cell manufacturing facility at Sisodara, Gujarat, with Phase I involving an investment of approximately Rs 1,200 crore.
The company said it is also developing pilot lines for ingot and wafer manufacturing, which are intended to build technical capabilities and create a foundation for future scale-up. The cell manufacturing facility is targeted to become operational by July 2027.
In Maharashtra, Navitas Solar is developing two solar parks with capacities of 200 MW and 25 MW, respectively, under EPC and independent power producer (IPP) models.
In Gujarat, the company is entering the energy storage segment with a planned 5 GWh battery energy storage facility in Vadodara, further strengthening its capabilities across the clean-energy ecosystem.
“India’s renewable energy journey is entering a phase where scale, technology and supply-chain depth will increasingly determine the competitiveness of the sector. At Navitas Solar, we want to participate across the value chain and build capabilities that enable us to contribute meaningfully to India’s clean energy transition,” Ankit Singhania, Director, Navitas Solar said.
“Our planned Rs 10,000 crore investment over the next five years is a reflection of this ambition. We are investing not only in manufacturing capacity, but also in the technologies and infrastructure that will shape the next phase of India’s renewable energy ecosystem,” he added.
The company has a 3 GW annual solar module manufacturing capacity and manufactures high-efficiency solar modules, including TOPCon and Bifacial Mono PERC technologies. It has also been pursuing backward integration through its solar encapsulant business, Navitas Alpha, while expanding its renewable energy portfolio through subsidiaries such as Navitas Planet. Alongside utility-scale renewable energy projects in India, its EPC business is expanding its presence across the Southern African region for execution of utility/IPP scale projects.
