Indian entrepreneur and investor commits $15.8M to Boost Goldi Solar’s PV Manufacturing

Indian entrepreneur and investor Nikhil Kamath has injected INR 1.375 billion (about $15.8 million) into Goldi Solar, a solar module manufacturer based in Gujarat. The fresh capital will support the company’s expansion of PV module production and its move into solar cell manufacturing.

Over the last year, Goldi Solar has scaled its module capacity from 3 GW to 14.7 GW, positioning itself as one of India’s fastest-growing solar manufacturers. The company now aims to strengthen its presence in both domestic and export markets with large-scale solar cell production.

Kamath highlighted the sector’s potential, noting that India’s renewable energy industry presents an opportunity to build globally competitive companies. “Supporting local champions is critical to accelerating India’s clean energy transition,” he said.

The investment comes as India pushes toward its 280 GW solar target by 2030, with strong policy support through tariffs on imports and incentives for domestic manufacturing under the government’s production-linked incentive (PLI) scheme.