Gautam Solar (GSPL) plans to establish a five GW solar cell manufacturing facility in Gwalior, Madhya Pradesh, with an investment of Rs 4,000 crore. 

Spread across 54 acres, the unit will focus on producing advanced tunnel oxide passivated contact (TOPCon) cells, recognised for their efficiency. The project will roll out in phases, with the first phase targeting two GW of production capacity by 2026. Following this milestone, GSPL intends to launch an initial public offering (IPO) to raise capital for the second phase, which will add another three GW. 

Director Gautam Mohanka described the initiative as a landmark for India’s renewable energy sector, positioning it among the nation’s largest solar cell plants equipped with next-generation technology. GSPL also revealed long-term plans to diversify into wafer manufacturing, aiming for a fully integrated solar value chain. The plant is expected to reduce India’s reliance on solar imports, bolster the domestic supply chain, and support the Atmanirbhar Bharat mission, thereby strengthening the country’s clean energy transition.