In Short : In India’s move to clean energy and renewable energy, Indosol Solar Pvt. Ltd., a solar PV producer under Shirdi Sai Electricals, is causing a stir. On a vast 1,500-acre plot of land in Andhra Pradesh, the company has outlined an ambitious ₹69,000 crore capital expenditure strategy to construct a vertical, giga-scale solar PV production ecosystem, from quartz to modules. Additionally, after its integrated 1 GW facility is launched, an IPO is planned for FY 2026–2027.
Key Points & Long-Term Effects
- Mega Scale & Capex: A vertically integrated solar energy system including ingot, wafer, PV cell, module, and even raw material processing would be built with the ₹69,000 crore investment, bolstering India’s drive for domestic solar manufacture, energy efficiency, and decarbonization.
- Support from the PLI plan: Indosol has been awarded ₹5,175 crore in two tranches under India’s Production Linked Incentive (PLI) plan, which would increase its capacity to produce clean energy and lessen its dependency on foreign solar technology.
- Operational Rollout & Stability Infrastructure: Although electricity instability hindered early operations, their pilot 500 MW module line started in March. A dedicated 33 kV transmission line is being created to address this issue and provide a steady supply of electricity and continuous production, which is essential for energy transition and efficiency.
Phase-Specific Growth:
- Phase 1A and Phase I: A 2,400 TPD glass facility to enable module manufacture is part of the ₹25,000–28,000 crore investment and 10 GW of capacity target.
- Phase II and Beyond: Plans include for infrastructure including a 120 MLD desalination plant and a 120,000 MT metallurgical silica facility, as well as 45,000 MT of polysilicon production and an extra 10 GW downstream module capacity. This integrated footprint supports decarbonization and supports the objectives of climate action.
- Financial Trajectory & IPO Timeline: Infrastructure delays prevented any income from being generated last year, but this fiscal year is expected to see revenue of ₹600 crore. With Shirdi Sai Electric holding at least 51% of the shares, a pre-IPO placement of 25–26% is envisaged, with the possibility of a 49% dilution. With a ₹12,000 crore order book, parent company Shirdi Sai anticipates revenue recovery to ₹6,500 crore.
- Greater Manufacturing Ambition: According to independent reports, Indosol plans to use government clean energy laws to expand domestic alternative energy infrastructure and reach 10 GW of solar manufacturing capacity by 2026, including the entire value chain.
An overview of the strategic components
Industry Emphasis Solar PV, solar panels, solar energy systems, photovoltaics (PV), renewable/green energy, clean energy, sustainable energy, and decarbonization technology were covered. Quartz → Ingot → Wafer → Cell → Module → Glass -> PV Value Chain Integration Modules . Structures of Support Desalination infrastructure, specialized energy infrastructure, and PLI incentives . Work and the Economy increases employment in clean technology and fortifies the workforce in renewable energy . Planning for the IPO in FY27, including parent holding structure and equity dilution .Alignment of the Climate Climate action, energy efficiency, energy transformation, and green economy.
In addition to strengthening India’s solar manufacturing ecosystem, Indosol is accelerating the energy transition, the growth of the green economy, and the creation of jobs in renewable energy by carrying out this massive plan
