GREW Solar, one of India’s youngest and fast-growing integrated solar PV module manufacturers, has secured ₹1,050 crore in a new funding round. The investment was led by Bay Capital Investment Limited, with participation from two other institutional investors.
This fresh capital comes after the company earlier raised ₹300 crore from well-known investors, including Vijay Kedia and Rohit Kothari of GeeCee Holdings.
Funds to Support Expansion and Integration
The company stated that the newly raised funds will be used to strengthen ongoing operations, advance strategic expansion plans, and accelerate its goal of becoming a fully integrated solar manufacturing player.
A major share of the investment will go toward expanding GREW Solar’s solar cell manufacturing capacity. The company plans to increase its total cell capacity from the currently planned 3 GW to 8 GW, marking a significant scale-up in production capability.
CEO Statement
Vinay Thadani, CEO & Director, GREW Solar, said:
“This investment strongly endorses GREW Solar’s manufacturing capabilities, growth vision, and commitment to building a globally competitive solar manufacturing ecosystem from India. With this capital, we are well positioned to accelerate our expansion, improve operational efficiency, and further strengthen our technology and scale.
As India advances toward its Make in India goals, GREW Solar remains committed to deploying technology-driven facilities and empowering the Indian workforce with future-ready skills. This initiative will help position India as a reliable global source of technical expertise and high-quality solar modules, while contributing meaningfully to the nation’s renewable energy targets.”
Capacity Expansion Underway
GREW Solar is currently undertaking major expansion projects at its Dudu facility and its Madhya Pradesh plant. These developments are aimed at creating integrated, end-to-end solar manufacturing capabilities.
With strong institutional backing and growing production capacity, the company is positioning itself as a key contributor to India’s renewable energy growth and as an emerging partner in the global solar manufacturing supply chain.
Electrify your feed! Click here to join our Whatsapp group and to get the latest updates, expert insights, and innovations driving India’s energy storage revolution.
