Solar module maker Gautam Solar is looking to foray into the engineering, procurement and construction (EPC) business and allied areas to complement its core manufacturing business.
The foray will enable it to offer integrated solar solutions, from component manufacturing to project execution, enhancing its market presence and service capabilities, said Gautam Mohanka, director, Gautam Solar.
Additionally, the company is considering developing in-house EPC solutions to offer end-to-end services, and this initiative is currently under consideration, Mohanka said.
Currently, L&T and Waree Renewable Technologies are the major EPC players in renewable energy. Gautam Solar also plans backward integrate through its upcoming solar cell manufacturing facility in Gwalior, Madhya Pradesh.
The plant will enable the company to produce its own solar cells, thereby fulfilling the in-house requirements of its module manufacturing operations, he said.
“With this, the company aims to enhance supply chain efficiency, reduce dependency on external suppliers, and ensure consistent quality across its solar modules, strengthening its position as a fully integrated solar manufacturing player,” Mohanka said.
On capacity expansion, he said the company plans to have two more high-speed production lines by the end of 2025, taking its overall manufacturing capacity to 5 GW. These higher-technology lines are procured from tier-I equipment vendors who have the latest technology,” he said.
The company is in the process of setting up a 5 GW solar cell manufacturing plant in Gwalior, spread across 54 acres. In February, it commissioned a new solar module manufacturing facility in Bhiwani, Haryana.
The company is also undertaking a capacity expansion plan that will enhance its annual module manufacturing capacity to 5 GW by the end of 2025. Apart from internal accruals, the company plans to raise Rs 4,000 crore in phases from different investors to fund its expansion plan.
The firm is also considering an initial public offering (IPO) in the next 12–18 months to raise Rs 1,000 crore for its solar cell manufacturing facility.
“These developments are part of a strategic initiative to strengthen the company’s integrated presence across the solar value chain and meet the growing demand for advanced renewable energy solutions,” he said.
The company has begun transferring the goods and services tax (GST) cut benefits to its customers. “This move ensures that the cost advantages are reflected in the final pricing, thereby enhancing competitiveness and promoting wider use of solar modules and cells,” he said.