Alpex Solar Secures ₹260 Crore to Expand Solar Cell, Module, and Aluminium Frame Manufacturing Capacity – EQ
In Short : Alpex Solar Ltd. has raised ₹260.17 crore (~$29.27 million) through a preferential issue of 2,146,600 equity shares and warrants. The funds will support expansion of solar module manufacturing, a 1.6 GW solar cell capacity, and a 12,000 MTPA aluminium frame facility. With a strong order book and EPC projects, Alpex aims to strengthen its position in India’s solar energy market.
In Detail : Alpex Solar Ltd. has successfully raised ₹260.17 crore (approximately $29.27 million) through a preferential issue of 2,146,600 equity shares and warrants. This capital infusion is aimed at supporting the company’s expansion plans and strengthening its position in India’s growing solar energy market. The funds will play a key role in scaling manufacturing capabilities and operational capacity.
The preferential issue drew participation from prominent investors, including funds with existing exposure in the renewable energy sector. Alpex Solar plans to expand its solar cell capacity to 1.6 GW and triple its solar module capacity from 1.2 GW to 3.6 GW by FY 2026-27. Trial production of solar cells is expected to commence soon, marking a significant step toward vertical integration.
In addition to cell and module expansion, Alpex Solar is developing a 12,000 MTPA aluminium frame manufacturing facility. This facility will support full-scale production across solar cells, modules, and aluminium frames, enabling the company to achieve manufacturing excellence and strengthen its supply chain for domestic and international markets.
Alpex Solar operates six manufacturing units across Greater Noida, Kosi Kotwan in Uttar Pradesh, and Madhya Pradesh. These units produce monocrystalline and polycrystalline solar modules, including TOPCon, bifacial, mono-PERC, and half-cut technologies. The company also provides engineering, procurement, and construction (EPC) solutions for solar energy systems, positioning it as a full-stack renewable energy provider.
For FY26, Alpex Solar aims to commission 500 MW of its planned 1.6 GW solar cell capacity. Its total order book for FY26 stands at ₹12.79 billion (~$144.01 million), encompassing solar modules and solar pumps. These milestones reflect the company’s focus on expanding capacity while meeting growing demand in India’s renewable energy sector.
Recently, Alpex Solar secured three major EPC and product orders valued at ₹10.69 billion (~$120.36 million) from clients such as CMPDIL, a Coal India subsidiary, and the Haryana Renewable Energy Development Agency. These contracts underscore the company’s ability to deliver large-scale projects and strengthen its market position.
In January 2025, Alpex Solar won Solar Energy Corporation of India’s auction to supply 97.5 MW of domestically manufactured solar modules at a bid price of ₹21.61 (~$0.25)/Wp. This success highlights the company’s competitiveness in bidding for government-backed projects and its commitment to supporting India’s renewable energy goals.
The funds raised through the preferential issue will accelerate Alpex Solar’s expansion plans, enabling timely completion of ongoing projects and scaling of manufacturing operations. By enhancing its production capabilities, the company aims to address the rising demand for solar modules and contribute to India’s clean energy transition.
Alpex Solar’s strategic initiatives and successful fundraising efforts reflect its commitment to innovation, sustainability, and customer satisfaction. With a robust order book, expanded manufacturing capacity, and focus on vertical integration, the company is well-positioned to play a significant role in India’s solar energy market and support the country’s renewable energy targets.
