Goldi Solar, one of India’s leading solar photovoltaic (PV) module manufacturers, has raised ₹137.5 crore from Zerodha co-founder Nikhil Kamath to accelerate its expansion into solar cell production and strengthen its renewable energy footprint.
Founded in 2011 by Ishverbhai Dholakia and headquartered in Surat, Goldi Solar has rapidly scaled operations, increasing its module manufacturing capacity from 3 GW to 14.7 GW in just the past year. The company now exports to more than 20 countries and also provides Engineering, Procurement, and Construction (EPC) services for solar projects.
Commenting on the investment, Kamath said, “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition.”
Goldi Solar is currently investing in backward integration with plans to establish a large-scale solar cell manufacturing facility by 2026 and aims to set up a 1 GW solar park by FY 2025-26.
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The company is also focused on introducing advanced solar cell technologies and high-efficiency modules to cater to both domestic and international demand.
In FY24, the company reported revenues of ₹1,756.36 crore with a profit of ₹59.38 crore. Beyond business, Goldi Solar is actively engaged in CSR initiatives, supporting education and mid-day meal programs for students.
