NARMADAPURAM, Madhya Pradesh – In a significant step towards backward integration, Gujarat-based Cosmic PV Power Limited has been allocated 60 acres of prime industrial land by the Madhya Pradesh government to establish a new solar cell manufacturing facility. The land, located in the Narmadapuram manufacturing zone will be used to set up a state-of-the-art plant with a planned capacity of 4 GW in a phased manner.
This move will allow the solar module manufacturer to produce a key component in-house strengthening its control over the supply chain and improving its competitive edge in India’s rapidly growing clean energy market.
A Strategic Leap into Cell Manufacturing
The company, led by Shravn Gupta and Jenish Ghael, already operates multiple solar module manufacturing units in the state, producing advanced mono-PERC and TOPCon modules. By venturing into solar cell production—a critical and high-value component of a solar panel—Cosmic PV Power is executing a classic backward integration strategy.
The top management stated that this new facility will be a “landmark achievement,” enabling them to:
- Enhance production capacity and efficiency.
- Diversify its product portfolio and strengthen vertical integration.
- Generate substantial employment opportunities in the region.
- Position the company among the top leaders in India’s clean energy revolution.
Driving Growth and Shareholder Value
The foray into cell manufacturing is not just an operational upgrade; it’s a core part of the company’s growth and financial strategy. By producing its own cells, the company can better control costs, improve profit margins, and become more resilient to supply chain disruptions, especially with the upcoming Approved List of Models & Manufacturers (ALMM) policy.
The management emphasized that this development will “significantly boost our growth trajectory multifold, enhancing both our market presence and shareholder value.” This aligns with the company’s previously announced plans to enter the public market through an Initial Public Offering (IPO) in the near future.
The project stands as a testament to the company’s vision of fostering a self-reliant, sustainable future for India’s energy sector.
Frequently Asked Questions (FAQ).
1. What is Cosmic PV Power’s main business?
Cosmic PV Power is a solar module manufacturer based in Gujarat, with multiple factories producing mono-PERC and TOPCon solar panels.
2. What has the company been granted by the MP government?
The Madhya Pradesh government has allocated 60 acres of industrial land in Narmadapuram for the company to set up a new solar cell manufacturing facility.
3. What is the capacity of the planned new plant?
The company plans to establish a 4 GW solar cell manufacturing facility,
which will be built out in phases.
4. What is “backward integration” and why is it important?
Backward integration is when a company starts producing the key components it previously bought from suppliers. By manufacturing its own solar cells, Cosmic PV Power reduces external dependencies, controls costs, secures its supply chain, and is better positioned for policies like the ALMM.
5. How does this align with the company’s future plans?
This expansion is a key part of the company’s growth strategy and enhances its value proposition as it prepares for a potential Initial Public Offering (IPO) to enter the stock market.
6. What are the broader benefits of this project?
The project is expected to create significant employment in the Narmadapuram region, contribute to Madhya Pradesh’s industrial growth and bolster India’s domestic solar manufacturing ecosystem under the ‘Atmanirbhar Bharat’ initiative.
