Alpex Solar will set up a 1.6 GW solar cell manufacturing capacity at Kosi Kotwan, Mathura, in Uttar Pradesh at an investment of Rs 642 crore. The expansion will be completed in three phases, with the first 500 MW expected to come on stream by October 2025.

The remaining two phases will be completed by April 2026 and September 2026, respectively. Earlier this year, the company purchased a seven-acre land parcel from the Uttar Pradesh Industrial Development Authority (UPSIDA) to build the second manufacturing unit.  

The capital outlay will be funded through banks and financial institutions, internal accruals, and equity infusion. 

The solar cell plant will be installed on the same premises along with the plan to set up a greenfield facility of 1.2 GW solar PV modules. It will achieve a total capacity of 1.2 GW in solar modules by Q3/FY25.