27
Jakson Solar plans to invest up to Rs. 50 billion ($525.2 million) to expand into solar cell and ingot-wafer manufacturing, adding 6 gigawatts (GW) of annual production capacity as India pushes to strengthen its domestic solar supply chain.
Managing Director Ivan Saha announced the investment plans on October 26 on the sidelines of the Renewable Energy India Expo, according to Reuters. The proposed expansion includes 3 GW of annual solar cell manufacturing capacity and a separate 3 GW for solar ingots and wafers.
The company aims to commission its solar cell manufacturing capacity by December 2027. Its ingot and wafer facilities are targeted for completion by the third quarter of fiscal 2028, Saha said. Jakson Solar has also secured equipment procurement agreements for the planned manufacturing expansion.
The new facilities will primarily serve the merchant market, supplying components to buyers beyond the company's own manufacturing operations. Jakson Solar currently operates a solar module manufacturing plant with an annual capacity of 1.2 GW.
Solar ingots are processed into wafers, which are then used to manufacture solar cells. These cells convert sunlight into electricity and are assembled into modules for solar installations. Expanding production across these stages would give India additional domestic manufacturing capacity beyond finished modules.
The investment comes as the government moves to reduce dependence on imported solar components. On March 18, 2026, the Ministry of New and Renewable Energy announced the extension of its Approved List of Models and Manufacturers (ALMM) framework to solar ingots and wafers. The new requirements are scheduled to take effect on June 1, 2028, with provisions to protect eligible projects already in the pipeline.
The policy aims to deepen domestic manufacturing and strengthen supply- chain resilience. However, building competitive upstream capacity will depend on production costs, technology, equipment availability and the ability of Indian manufacturers to compete with established overseas suppliers.
For Jakson Solar, the planned investment would broaden its manufacturing operations from modules into the cells and intermediate materials used in solar production. The expansion also reflects a wider shift in India,s renewable energy industry towards developing a more integrated domestic solar supply chain.
Managing Director Ivan Saha announced the investment plans on October 26 on the sidelines of the Renewable Energy India Expo, according to Reuters. The proposed expansion includes 3 GW of annual solar cell manufacturing capacity and a separate 3 GW for solar ingots and wafers.
The company aims to commission its solar cell manufacturing capacity by December 2027. Its ingot and wafer facilities are targeted for completion by the third quarter of fiscal 2028, Saha said. Jakson Solar has also secured equipment procurement agreements for the planned manufacturing expansion.
The new facilities will primarily serve the merchant market, supplying components to buyers beyond the company's own manufacturing operations. Jakson Solar currently operates a solar module manufacturing plant with an annual capacity of 1.2 GW.
Solar ingots are processed into wafers, which are then used to manufacture solar cells. These cells convert sunlight into electricity and are assembled into modules for solar installations. Expanding production across these stages would give India additional domestic manufacturing capacity beyond finished modules.
The investment comes as the government moves to reduce dependence on imported solar components. On March 18, 2026, the Ministry of New and Renewable Energy announced the extension of its Approved List of Models and Manufacturers (ALMM) framework to solar ingots and wafers. The new requirements are scheduled to take effect on June 1, 2028, with provisions to protect eligible projects already in the pipeline.
The policy aims to deepen domestic manufacturing and strengthen supply- chain resilience. However, building competitive upstream capacity will depend on production costs, technology, equipment availability and the ability of Indian manufacturers to compete with established overseas suppliers.
For Jakson Solar, the planned investment would broaden its manufacturing operations from modules into the cells and intermediate materials used in solar production. The expansion also reflects a wider shift in India,s renewable energy industry towards developing a more integrated domestic solar supply chain.
