PV module manufacturer Alpex Solar Ltd today announced that it has successfully raised INR 260.17 crore through a preferential issue of 21,46,600 equity shares and warrants. The strategic fundraising will support the company’s plans to expand module manufacturing capacity and become an integrated solar cell and module manufacturer.
The preferential issue witnessed participation from prominent investors and funds, a few of them already having exposure in the renewable energy space.
Alpex Solar aims to have a solar cell capacity of 1.6 GW and triple its solar module capacity to 3.6 GW from the present 1.2 GW by FY 2026-27. Trial production of solar cells (first phase) is set to commence soon. Besides, the company is also looking to have its 12,000 MTPA aluminium frame manufacturing facility fully operational.
“This fundraising marks a pivotal milestone in Alpex Solar’s journey towards vertical integration and manufacturing excellence. With the capital infusion, we are well-positioned to complete our ongoing expansion to achieve full-scale production across solar cells, modules, and aluminium frames,” said Ashwani Sehgal, managing director of Alpex Solar Ltd. “In FY26, we are hopeful of commissioning Phase 1 of our 1.6 GW solar cell project, with 500 MW commencing commercial production, alongside the 12,000 MT aluminium frame plant.”
Alpex Solar currently operates out of Greater Noida with six manufacturing units spread across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh. It is set to expand with five new manufacturing units across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh.
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