Goldi Solar to invest Rs 5k cr in expanding module production capacity

Goldi Solar to invest Rs 5k cr in expanding module production capacity

Goldi Solar, based in Gujarat, is investing over Rs 5,000 crore to increase its module manufacturing capacity to 6 GW, according to the company’s managing director, Ishver Dholakiya.

About Company

Goldi Solar is a solar company in India that manufactures high-end photovoltaic modules, provides EPC services and operates as an independent power producer. 

The company was founded in 2011 by Ishver Dholakiya and Bharat Bhut and is headquartered in Surat, Gujarat. Goldi Solar has a 2.5 GW manufacturing capacity and exports to 20+ countries globally. The company is known for its quality, reliability, and performance commitment in the solar industry. Goldi Solar also has a presence in the USA as Goldi USA.

“We are in the process of investing over Rs 5,000 crore as part of our expansion plans to increase module manufacturing from 2.5 GW to 6 GW,” he said when asked about the company’s growth plans.

He stated that the expansion of the renewable energy business will be channeled into auxiliary production, such as aluminum frames, junction boxes, back sheets, and so on.

The investment will be made by 2025, he said, adding that his company also plans to hire over 4,500 people across various functions, bringing its workforce to over 5,500 by FY25.

“We plan to hire 25 percent of the workforce from the local tribal regions adjoining its proposed manufacturing facility. We will conduct a three-month certification program at a skill development center,” the managing director said.

Dholakiya stated that Goldi Solar has partnered with L&T Public Charitable to train a skilled workforce in the solar manufacturing space.

The investment strategy also includes the establishment of cell manufacturing units. He added that once cell manufacturing begins, the cell manufacturing capacity will be increased to 5 GW.

Goldi Solar has two module manufacturing plants in Gujarat’s Pipodara and Navsari districts.