Goldi Solar Secures ₹1,400 Crore Boost Led by Havells India to Accelerate Solar Manufacturing and Power India’s Clean Energy Future – EQ
In Short : Goldi Solar has secured over ₹1,400 crore in growth capital, led by Havells India and other investors, including Nikhil Kamath. The funds will expand its solar module manufacturing and develop a 1.2 GW solar cell facility in Gujarat. This investment boosts India’s solar manufacturing capacity and supports the nation’s clean energy and “Make in India” goals.
In Detail : Goldi Solar has achieved a major milestone by securing over ₹1,400 crore in growth capital from a consortium of investors led by Havells India. The investment marks one of the largest in India’s solar manufacturing sector this year and reflects strong investor confidence in the company’s long-term expansion strategy and renewable energy potential.
The funding round saw participation from several prominent investors, including Havells India and Nikhil Kamath, co-founder of Zerodha. Havells alone contributed approximately ₹600 crore, while Kamath invested around ₹140 crore. This diverse investor base brings both financial strength and strategic expertise to Goldi Solar’s growth journey.
With this infusion, Goldi Solar plans to accelerate its manufacturing expansion, focusing on developing a 1.2 GW solar cell facility in Gujarat. The company aims to enhance its solar module production capacity, strengthen backward integration, and invest in advanced technologies to improve efficiency and reduce overall production costs.
Over the past year, Goldi Solar has expanded its module manufacturing capacity from 3 GW to nearly 14.7 GW, positioning itself among India’s leading solar manufacturers. The new funding will help the company scale further and meet the growing domestic and international demand for high-quality, locally made solar modules.
This investment aligns with India’s “Make in India” and “Atmanirbhar Bharat” initiatives, aimed at promoting self-reliance in renewable energy manufacturing. By expanding domestic production, Goldi Solar is expected to play a critical role in reducing India’s dependence on imported solar components and fostering sustainable energy independence.
The capital will also be used to drive research and innovation in solar technologies, particularly in high-efficiency modules and energy storage solutions. Goldi Solar is focusing on next-generation photovoltaic designs that can deliver better performance in diverse environmental conditions, boosting India’s competitiveness in the global solar market.
Advised by SBI Capital Markets and legal counsel from Saraf & Partners, the investment round ensures strong corporate governance and strategic direction. The partnership between Havells and Goldi Solar is also expected to unlock new synergies in energy infrastructure and product integration, enhancing overall industry collaboration.
For Havells India, this investment represents a strategic entry into the renewable energy manufacturing space. By backing Goldi Solar, Havells aims to diversify its portfolio and secure access to locally manufactured, high-quality solar modules, aligning with its sustainability goals and long-term energy solutions roadmap.
Overall, this capital infusion marks a defining moment for Goldi Solar and India’s solar industry. It not only strengthens domestic manufacturing capabilities but also accelerates the nation’s transition toward clean energy, innovation, and sustainable growth, reaffirming India’s position as a global leader in the renewable energy revolution.
