Surat-based module manufacturer Navitas Solar has announced a ₹10,000 crore investment over five years to establish facilities covering the entire solar value chain. According to reports from Business Standard, the company plans to expand beyond module manufacturing into solar cells, ingots, wafers, battery energy storage and solar power generation projects in Gujarat and Maharashtra. This investment represents a significant evolution from a solar module manufacturer into a more deeply integrated clean energy company, marking one of the largest domestic bets on green energy infrastructure. As reported by Navitas Solar, the investment will strengthen its presence in both the upstream and downstream segments of the renewable energy value chain, including solar cells, ingots, wafers, battery energy storage and solar power generation projects.
As part of the expansion, Navitas Solar is already progressing with a 2.4 GW solar cell manufacturing facility at Sisodara, Gujarat, with Phase I involving an investment of around ₹1,200 crore. As reported by Business Standard, the company is also developing pilot lines for ingot and wafer manufacturing to build technical capabilities and create a foundation for future scale-up. The cell manufacturing facility is targeted to become operational by July 2027. At Sisodara in Surat district, the company has already commissioned a 2.5-GW solar module manufacturing facility, taking its total module production capacity to 3 GW. The company operates a 3 GW annual solar module manufacturing capacity and has been pursuing backward integration through its solar encapsulant business, Navitas Alpha, while expanding its renewable energy portfolio through subsidiaries such as Navitas Planet.
Beyond manufacturing, Navitas Solar is developing two solar parks with capacities of 200 MW and 25 MW respectively, under EPC and independent power producer (IPP) models in Maharashtra. According to Business Standard, in Gujarat, the company is entering the energy storage segment with a planned 5 GWh battery energy storage facility in Vadodara, involving an investment of around ₹100 crore. This expansion into renewable energy generation and energy storage aligns with the company's strategy to participate across the value chain and develop large-scale renewable energy assets.
Ankit Singhania, Director at Navitas Solar, stated that the company wants to participate across the value chain and build capabilities that enable meaningful contribution to India's clean energy transition. As reported by Business Standard, he emphasized that India's renewable energy journey is entering a phase where scale, technology and supply-chain depth will increasingly determine sector competitiveness. The company reported revenue of ₹1,300 crore in FY26 and is targeting over ₹2,000 crore in FY27. The investment roadmap aligns with increasing emphasis on domestic manufacturing, supply-chain resilience and greater value addition in the solar power sector. The promoters currently hold about 67 per cent stake in the company, with plans to launch an IPO over the next couple of years to raise part of the required capital.
Navitas Solar, founded in 2013 by a group of young entrepreneurs Vineet Mittal, Sunay Shah, Ankit Singhania and Aditya Singhania, specializes in manufacturing Mono PERC and high-efficiency N-Type TOPCon solar modules with capacities of up to 720 watts. According to Business Standard, the company's Engineering, Procurement and Construction (EPC) business is expanding its presence in South Africa for utility-scale and independent power producer projects. The investment roadmap is in line with the increasing emphasis on domestic manufacturing, supply-chain resilience and greater value addition in the solar power sector.
