Company to utilise the proceeds to fund its vision as an integrated solar cell and module manufacturer
Greater Noida; September 24th, 2025: Alpex Solar Limited (NSE Emerge: ALPEXSOLAR), one of India’s leading solar PV module manufacturers, today announced that it has successfully raised ₹260.17 crore through a Preferential Issue of 21,46,600 equity shares and warrants. The strategic fundraise will support its aggressive expansion plans aimed at transforming the company into an integrated solar cell and module manufacturer.
The preferential issue witnessed participation from prominent investors and funds, few of them already having exposure into renewable energy space.
The company is looking to triple its solar module capacity to 3.6 GW from the present 1.2 GW by FY 2026-27. Trial production of solar cells (first phase) is set to commence soon. Alpex Solar aims to have a solar cell capacity of 1.6 GW and solar module capacity of 3.6 GW by FY2026–27. Besides, it is also looking to have its 12,000 MTPA aluminium frame manufacturing facility fully operational.
Commenting on the development, Mr. Ashwani Sehgal, Managing Director of Alpex Solar Ltd., said, “This fundraise marks a pivotal milestone in Alpex Solar’s journey towards vertical integration and manufacturing excellence. With the capital infusion, we are well-positioned to complete our ongoing expansion to achieve full-scale production across solar cells, modules, and aluminium frames. In FY26, we are hopeful of commission Phase 1 of our 1.6 GW solar cell project, with 500 MW commencing commercial production, alongside the 12,000 ton aluminium frame plant. We are confident that our current expansion plans will help us cater to the steadily growing demand for solar cell and modules in the market.”
Alpex Solar currently operates six manufacturing units spread across Greater Noida, Kosi-Kotwan in Uttar Pradesh and Madhya Pradesh. The company's Kosi-Kotwan site is witnessing rapid construction activity as part of its solar cell and module capacity expansion.
Alpex Solar currently operates in Greater Noida and is set to expand with five new manufacturing units across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh. The company’s Kosi-Kotwan facility is witnessing accelerated construction activity as part of its ongoing solar cell and module capacity expansion.
Order Wins & Business Momentum
Alpex Solar has recently secured three major EPC and product orders, valued at ₹1,069 crore, from prestigious clients such as CMPDIL (a Coal India subsidiary) and the Haryana Renewable Energy Development Agency (HAREDA).