India's Navitas Solar Targets $1.04 Billion Clean Energy Build-Out

Privately held Indian solar manufacturer Navitas Solar plans to invest 100 billion rupees, about $1.04 billion, over five years to build an integrated clean energy business spanning Gujarat and Maharashtra. The company disclosed the plan on Thursday, saying the capital will fund expansion across solar ingots, wafers, cells and modules alongside battery energy storage systems and renewable power generation. The scale of the commitment marks a substantial widening of Navitas's business beyond its existing module manufacturing base, positioning it toward a vertically integrated model spanning raw materials through to power generation assets.

 

The largest single project already underway is a 2.4 gigawatt solar cell plant in Sisodara, Gujarat, with the first phase, backed by roughly 12 billion rupees, targeted to begin operations by July 2027. Navitas is also constructing a 5 gigawatt-hour battery storage facility in Vadodara, extending its manufacturing footprint into grid-scale storage rather than confining the build-out to panel production.

 

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In Maharashtra, the company is developing two solar parks, one rated at 200 megawatts and a smaller 25 megawatt project, moving the company into project development and generation alongside its manufacturing operations. Navitas currently runs 3 gigawatts of annual solar module manufacturing capacity, so the planned expansion would meaningfully increase both cell output and the company's reach across the broader clean energy supply chain.

 

The investment places Navitas among a group of Indian manufacturers scaling domestic solar production as the country works to reduce dependence on imported cells and modules while expanding renewable generation capacity. Moving upstream into ingots and wafers would give Navitas greater control over input costs and reduce exposure to the price swings that have affected global polysilicon and wafer markets in recent years. Pairing that manufacturing push with battery storage also reflects a broader shift in the sector toward dispatchable renewable power rather than intermittent generation alone.

 

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Navitas said the expansion would broaden its footprint in India's clean energy sector, though the company gave no breakdown of financing sources, expected returns, or how the 100 billion rupees will be split across the ingot, wafer, cell, module, storage and generation components of the plan.