New Delhi, August 18 — Entrepreneur and Zerodha co-founder Nikhil Kamath has invested ₹137.5 crore in Goldi Solar, India’s largest solar photovoltaic (PV) module manufacturer, in a strategic move to support the country’s renewable energy ambitions. The capital infusion is aimed at expanding Goldi Solar’s manufacturing capacity and reinforcing India’s position as a global hub for clean energy technology.
Founded in 2011 by Ishverbhai Dholakia, Goldi Solar has rapidly scaled its operations, tripling its PV module manufacturing capacity from 3 GW to 14.7 GW in the past year. The company is also developing solar cell manufacturing units in Surat, Gujarat, as part of its backward integration strategy. These expansions are designed to meet India’s growing demand for high-efficiency solar modules and cells, while also tapping into export markets.
Kamath emphasized the importance of backing domestic clean energy companies, stating, “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”.
The investment aligns with India’s ambitious target of achieving 280 GW of solar power generation by 2030. Government initiatives such as import duties on foreign modules and incentives under the Production Linked Incentive (PLI) scheme are further driving growth in the domestic solar manufacturing sector.
Goldi Solar’s expansion also supports India’s broader decarbonization roadmap, with the country pledging to achieve net-zero emissions before 2070. Kamath’s investment is expected to play a pivotal role in strengthening India’s clean energy infrastructure and fostering innovation in solar technology.
