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Zerodha co-founder Nikhil Kamath has invested INR 137.5 crore in Gujarat-based Goldi Solar to support its expansion. Founded in 2011, the solar PV module maker has rapidly scaled its capacity from 3 GW to 14.7 GW and is developing solar cell manufacturing in Surat. Kamath said India's renewable sector offers vast opportunities to build global-scale companies locally. The investment underscores momentum in the domestic solar industry, with rivals like Vikram Solar preparing for a INR 2,000 crore IPO. Backed by government policies, including import duties on foreign modules and PLI incentives, India is targeting 280 GW of solar power capacity by 2030.
Nikhil Kamath, the co-founder of the popular brokerage firm Zerodha, has committed a INR 137.5 crore investment in Goldi Solar, a solar PV module manufacturer. The company, based in Gujarat, confirmed that the fresh capital will be directed towards its ongoing expansion activities. Advertisement
In a statement, Kamath expressed his confidence in the sector, saying, "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."
Goldi Solar has seen rapid expansion over the past year, growing its solar PV module manufacturing capacity to 14.7 GW from a previous 3 GW. The company, which was incorporated in 2011, is also in the process of developing its solar cell manufacturing capabilities in Surat, Gujarat. It plans to continue introducing high-efficiency modules and cells to meet India's rising demand for clean energy.
The investment highlights the growing momentum in the domestic solar industry. It arrives as a competitor, Vikram Solar, is preparing for a INR 2,000 crore initial public offering. The sector is supported by significant government initiatives, including a target of 280 GW of solar power by 2030, and policy interventions such as import duties on foreign modules and incentives for local manufacturers under the Production Linked Incentive (PLI) scheme.
Source- PTI
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