GREW Solar Secures ₹1,050 Cr Funding to Triple Solar Cell Capacity to 8 GW

Solar PV module manufacturer GREW Solar has raised ₹1,050 crore in a new funding round led by Bay Capital Investment Limited, with participation from two other institutional investors.

This funding follows the company’s earlier ₹300 crore rounds backed by prominent investors, including Vijay Kedia and Rohit Kothari of GeeCee Holdings, highlighting continued confidence in GREW Solar’s growth strategy.

The newly raised capital will be used to strengthen ongoing operations, support strategic expansion plans and accelerate the company’s goal of becoming a fully integrated solar manufacturer. A significant portion of the investment will go toward expanding its solar cell manufacturing facility, increasing total cell production capacity from the planned 3 GW to 8 GW.

GREW Make in India Objective

Speaking on the development, Vinay Thadani, CEO and Director of GREW Solar, said the investment validates the company’s manufacturing capabilities and long-term vision.

He noted that the funds will help accelerate expansion, enhance operational efficiency and strengthen technological capabilities and scale. He added that as India advances its Make in India objectives, GREW Solar remains committed to building technology-driven facilities and equipping the workforce with future-ready skills, thereby contributing to the country’s renewable energy targets and positioning India as a reliable global supplier of high-quality solar modules.

“As India advances toward its Make in India goals, GREW Solar remains committed to deploying technology-driven facilities and empowering the Indian workforce with future-ready skills. This initiative will help position India as a reliable global source of technical expertise and high-quality solar modules, while contributing meaningfully to the nation’s renewable energy targets,” he said.

The company is also expanding manufacturing capacity at its Dudu and Madhya Pradesh facilities to support integrated, end-to-end solar production.

With strong investor backing, capacity expansion and a continued focus on sustainable manufacturing, GREW Solar aims to play a key role in India’s renewable energy growth and establish itself as a trusted global solar partner.