RAYZON Solar Limited (RSL), a prominent Indian solar module manufacturer, is preparing to begin operations at its 5.1 GW TOPCon solar cell manufacturing facility in December 2026. Commercial deliveries from the plant are expected to commence in the first quarter of 2027. The development represents a significant step in the company’s manufacturing expansion strategy, aimed at strengthening backward integration and enhancing its solar cell production capabilities.
Founded in 2017 by Chirag Nakrani and Hardik Kothiya, RAYZON Solar has been expanding its manufacturing operations through investments in advanced technologies and integrated infrastructure. Despite shifting its proposed funding strategy from IPO proceeds to debt financing amid market volatility, the company remains committed to its manufacturing expansion plans.
As part of its next phase of growth, RAYZON Solar is planning a 5.1 GW ingot casting and wafer slicing facility, targeted for development by 2028. The company is currently engaging with multiple states to evaluate incentives and identify a suitable location for the proposed project. The investment is aimed at strengthening domestic upstream manufacturing and reducing India’s dependence on imported solar manufacturing inputs.
Commenting on the company’s growth and future roadmap, Chirag Nakrani, Co-Founder, RAYZON Solar Limited, said, “The commissioning of our 5.1 GW TOPCon solar cell manufacturing facility in December 2026 will mark an important milestone in RAYZON Solar’s journey towards deeper backward integration.”
He adds, “As we advance our cell manufacturing plans, our next phase of expansion will focus on a proposed 5.1 GW ingot casting and wafer slicing facility, targeted for 2028. We are engaging with multiple states to assess incentives and finalise the location for this proposed investment.”
Hardik Kothiya, Co-Founder, RAYZON Solar Limited, added, “By expanding from modules into TOPCon cell manufacturing, and subsequently exploring upstream integration through ingot and wafer manufacturing, we aim to strengthen domestic capabilities, reduce import dependence and enhance our competitiveness in global markets.”
Alongside its solar cell manufacturing expansion, RAYZON Solar has commissioned a 19,800 MTPA aluminium extrusion and anodising facility dedicated to producing solar module frames, strengthening its domestic manufacturing capabilities. The company has also filed three patents through its research and development initiatives over the past year. Its ongoing R&D efforts include tandem-junction technology and nano-coatings for next-generation solar modules, with commercial launches targeted by 2028.
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