BII Secures CCI Approval to Back ReNew Photovoltaics’ ₹870 Crore Solar Manufacturing Expansion – EQ
In Short : British International Investment has received CCI approval to acquire a minority stake in ReNew Photovoltaics for around ₹870 crore. The investment will support the expansion of a 4 GW TOPCon solar cell facility in Dholera, Gujarat. Once complete, ReNew’s total capacity will reach 6.4 GW each for solar cells and modules, strengthening India’s domestic solar manufacturing ecosystem.
In Detail : British International Investment (BII) has secured approval from the Competition Commission of India (CCI) to acquire a minority stake in ReNew Photovoltaics, the solar manufacturing arm of ReNew. This investment reflects BII’s growing interest in India’s clean energy manufacturing sector and commitment to supporting sustainable infrastructure.
The deal is valued at approximately ₹870 crore, or around US \$100 million. This capital infusion is expected to play a key role in funding ReNew Photovoltaics’ ambitious manufacturing expansion plans, particularly in the high-efficiency solar cell segment.
ReNew Photovoltaics is currently developing a 4 GW TOPCon (Tunnel Oxide Passivated Contact) solar cell manufacturing facility in Dholera, Gujarat. The new investment from BII will significantly accelerate the construction and operational readiness of this advanced manufacturing plant.
TOPCon technology is considered next-generation in solar cell efficiency, promising better energy yield and long-term performance. With global interest in high-efficiency solar technologies on the rise, this facility positions ReNew as a serious player in advanced solar manufacturing.
Upon completion of the Dholera facility expansion, ReNew Photovoltaics will have a total manufacturing capacity of 6.4 GW each for solar cells and solar modules. This scale-up is expected to enhance India’s self-reliance in renewable energy hardware and reduce import dependence.
The partnership between BII and ReNew also underscores a broader trend of international investors backing India’s clean energy transition. With policy support and robust domestic demand, India is rapidly becoming a key hub for renewable energy manufacturing and innovation.
