The land is situated in a well-connected area in Kosi Kotwan (on National Highway 19)

    The company will release the first tranche of payment towards the allocated land shortly

    The land parcel to be utilised for setting up a manufacturing facility for solar panels and modules

New Delhi; April 01, 2024: The Board of Directors of Alpex Solar Limited accorded consent to the allotment of 25,873.27 (~7 acres) of land by the Uttar Pradesh State Industrial Development Authority (UPSIDA) at Kosi Kotwan (on National Highway 19) in Mathura at an estimated sum of Rs 15.04 crore. The company will release the first tranche of payment towards the allocated plot of land shortly.

The company notified the stock exchange that the land parcel would be used to set up a manufacturing facility for solar panels and modules and would receive the due approval of all the authorities at an appropriate time.

Alpex Solar (NSE Symbol: ALPEXSOLAR) is one of the leading manufacturers of solar systems and is listed on the NSE Emerge platform.

The company had earlier participated in the e-auction process for the allotment of industrial land organised by UPSIDA.

Commenting on the development, Ashwani Sehgal, Managing Director, Alpex Solar Limited, said, “The land allotment in Mathura is a significant development in terms of the company’s existing and future expansion plans. The land parcel is in one of the most prestigious industrial areas in Mathura and will be utilised for setting up a facility for manufacturing solar panels and modules. The industrial area at Kosi Kotwan (on NH-19) in Mathura is almost an extended part of NCR and easily approachable through the National Highway within an hour’s distance. The new location will provide easy access both in terms of logistics and vendor support.”

Greater Noida-based Alpex Solar manufactures PV modules using monocrystalline and polycrystalline cell technologies. Its product portfolio comprises bifacial, mono-perc, and Halfcut solar PV modules. It also offers comprehensive solar energy solutions, including engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories. It forayed into solar panel manufacturing in 2007. It built a stateof-the-art plant spread over 7,700 square meters in Greater Noida with an 848 MW capacity (as per MNRE notification 22 March 2024), which can be further expanded to 2 GW.

Alpex Solar manufactures and delivers solar panels in the B2B market and also serves as a contract manufacturer for several large companies, such as Jakson and Tata Power. Its solar panels are delivered with a specific focus on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power and Hild Energy Private Limited. The company was listed on NSE Emerge in February 2023.

Recently, the company received new mega and prestigious orders for the supply, installation and commissioning of 1434 Solar Water Pumping Systems under PM-Kusum Scheme for Rs. 43.70 Cr from The Director General, New & Renewable Energy Department Haryana & (HAREDA), Panchkula. Alpex Solar Ltd is also empanelled and approved to install solar water pumps in Rajasthan. The order from the State Government of Rajasthan will start flowing in soon.

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