GREW Solar, the renewable energy venture of the Ahmedabad-based Chiripal Group, has successfully raised INR 300 crore from a diverse set of investors. The funds will be used to accelerate product development, strengthen technological infrastructure, and drive strategic expansion.
The funding round saw participation from marquee investors such as Vijay Kedia and Rohit Kothari of GeeCee Holdings, both renowned for identifying companies with strong fundamentals and long-term value potential.
Speaking on his investment, Vijay Kedia said, “I invest in companies that are built on integrity, vision, and execution strength. GREW Solar embodies these values and is well-positioned to ride India’s renewable energy wave, particularly in solar manufacturing. It has the potential to create long-term value for investors while advancing India’s leadership in clean energy.”
Rohit Kothari of GeeCee Holdings said, “GeeCee Holdings trusts GREW Solar’s commitment to drive its next phase of growth, backed by strong technology capabilities and visionary leadership. In alignment with India’s clean energy agenda and global sustainability goals, we believe renewable energy is the future. We remain steadfast in supporting GREW Solar’s journey as they scale and create lasting impact.”
Vinay Thadani, director & CEO of GREW Solar, added, “These investments validate our strategy and motivates us to build a robust solar ecosystem that powers India’s green ambitions. This will fuel our next phase of growth and strengthen our commitment to contribute meaningfully to India’s renewable energy goals.”
Since its inception in 2022, GREW Solar has rapidly scaled its operational PV module manufacturing capacity to 3 GW delivering high-efficiency M10 TOPCon modules of up to 590 Wp. The company is currently expanding its Dudu plant to 11 GW, making it one of India’s largest AI powered, integrated solar PV module manufacturing plant equipped with its own state-of-the-art R&D laboratory.
As part of its backward integration plans, GREW will initially establish a 3 GW solar PV cell plant at Narmadapuram, Madhya Pradesh, followed by a capacity expansion to 8 GW by the end of 2026 at the same location.
New launches
At RE+ 2025, North America’s largest clean energy trade show, Grew Solar has launched its next-generation ALL BLACK series n-type TOPCon modules that are designed for seamless rooftop integration. The modules are available in power output up to 440 Wp with 22.53% efficiency. These are optimized low light, hot summers, and snowy winters and come with a 25-year warranty.
Grew Solar has also launched its glass-to-glass M10 TOPCon modules and glass-to-glass G12R TOPCon modules at RE+ 2025. Designed for utility-scale and C&I applications, G2G M10 TOPCon modules deliver up to 590 Wp and 22.84% efficiency, with superior performance in hot climates and at dawn/dusk. G2G G12R TOPCon High-Power Series includes modules up to 635 Wp and 23.51% efficiency.
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