Gujarat-based Goldi Solar will infuse over INR 5,000 crore into massive capacity expansion and backward integration by 2025 as it aims to emerge as an end-to-end vertically integrated renewable energy solutions company.
Currently, the company has 2.5 GW of PV module capacity in Gujarat. It will invest the committed amount into expanding its module capacity to 6 GW and building 5 GW of new cell manufacturing capacity by 2025. It will also invest in producing auxiliary materials like aluminum frames, junction boxes, and backsheet to control costs and offer cost-competitive products.
Goldi Solar said 2-3 GW of its planned 5 GW cell capacity will become operational by December 2023.
Simultaneously, the company unveiled its HELOC̣ Plus 710 W bifacial HJT module, which, it said, is ideal for commercial and industrial PV installations. The module is built with 132 half-cells and offers a conversion efficiency of up to 22.85%. The company said its HJT module performs well in low-light environments due to its advanced glass and cell surface textured design. It said these modules are currently under the process of global certification and will become commercially available in a couple of months.
Goldi Solar plans to recruit over 4,500 people across various functions, increasing its workforce to 5,500+, including the existing workforce. The company plans to hire 25% of the workforce from the local tribal regions adjoining its proposed manufacturing facility.
To train the new recruits for a career in renewables, Goldi Solar will conduct three-month certification programmes at a skill development centre that it plans to open in collaboration with the National Skill Development Council in Navsari, Gujarat.
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