Websol Energy to invest USD 340m in solar expansion

• Websol Energy to invest USD 341m in new TOPCon lines, expanding solar cell and module capacity to 5.2 GW and 4.5 GW by 2028.

Indian solar products manufacturer Websol Energy System Ltd (BOM:517498) has unveiled a major USD 341 million (INR 30 billion/EUR 292 million) expansion plan to significantly scale up its solar cell and module production capacity. The initiative reflects surging domestic demand for solar technologies as India accelerates its clean energy transition.

Approved by the company’s board of directors, the project will add 4 GW of new production lines based on TOPCon (Tunnel Oxide Passivated Contact) technology, which is increasingly viewed as the next generation of high-efficiency solar manufacturing.

Websol currently operates a 600-MW solar cell line (running at 90% utilization) and a 550-MW solar module line at Falta in West Bengal. In addition, the company is preparing to launch a 600-MW co-located solar cell facility in October 2025.

The upcoming expansion will be executed in two phases, each delivering 2 GW of solar cell and 2 GW of solar module capacity. The first phase is expected to be completed by June 2027, with the second to follow by June 2028. Funding will come from a blend of internal accruals and external lending facilities.

Once completed, Websol’s total manufacturing capacity will reach 5.2 GW for solar cells and 4.5 GW for solar modules.

“Our solar cell and module capacities will reach 5.2 GW and 4.5 GW by 2028, playing an important role in achieving India’s goal of 280 GW of solar power by 2030. This expansion strengthens our market position in clean energy adoption and our ability to deliver high-efficiency solar-based products,” said Sohan Lal Agarwal, managing director of Websol Energy System.

India is targeting 280 GW of solar capacity by 2030, and domestic manufacturers are scaling operations to reduce reliance on imports and strengthen the country’s renewable energy value chain. Websol’s expansion is expected to bolster its role in supplying high-performance solar solutions to developers and utilities across the country.