Goldi Solar, a manufacturer of solar photovoltaic (PV) modules, has raised Rs 137.5 crore from Nikhil Kamath, a co-founder of Zerodha.
Goldi Star stated in a press release that the money raised would be utilized to expand into the production of solar cells.
Goldi Solar was founded in 2011 by Ishverbhai Dholakia and produces solar photovoltaic modules. It exports to more than 20 countries worldwide and has a sizable presence in India. With a current capacity of 14.7 GW for module manufacturing, Goldi is a company that is also growing its capacity for cell manufacturing.
In addition to producing modules, the Surat-based business provides solar project Engineering, Procurement, and Construction (EPC) services. It participates in Corporate Social Responsibility (CSR) programs, which include giving students midday meals and assisting educational institutions.
According to Goldi Solar, during the past 12 months, its module manufacturing capacity has grown from 3 GW to 14.7 GW. By 2026, the company intends to build a large-scale cell manufacturing facility as part of its backward integration efforts. By FY 2025–2026, it hopes to have a 1 GW Solar Park (IPP).
Targeting both domestic and international markets, the company says it will concentrate on introducing high-efficiency modules and cutting-edge cell technologies.
Goldi Solar reported revenue of Rs 1756.36 crore and a profit of Rs 59.38 crore for the fiscal year that ended in March 2024. The business has not yet submitted its FY25 annual report.
“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,” said Nikhil Kamath, co-founder of Zerodha.
