Solar PV module manufacturer Goldi Solar said on Wednesday that it has raised Rs 1,422 crore from Havells India and a consortium of strategic and institutional investors.
Electrical equipment maker Havells India is spearheading the investment. Other investors include Ambit Global Private Client, Nikhil Kamath, Shahi Exports, SRF Transnational Holdings, Karmav Real Estate Holdings, NSFO Ventures and Godwitt Construction.
The growth capital infusion was advised by SBI Capital Markets Limited, with Saraf and Partners serving as company counsel, ensuring robust governance and strategic direction throughout the process, Goldi Solar said.
Investment to fuel capacity, innovation push
Through these investments, the consortium will actively support Goldi Solar's continued expansion as a global renewable energy leader, built on a strong foundation of governance, values, and performance, it added.
The funding will facilitate Goldi Solar's manufacturing capacity expansion, strengthen backward integration into solar cell production, accelerate innovation in high-efficiency solar technologies, and expand the company's go-to-market efforts.
The synergy between these corporate partnerships and impact-driven capital remains a cornerstone of Goldi Solar's strategy to scale best-in-class solar manufacturing and circular-economy solutions in India.
Dholakiya: 'Transformative chapter' for Goldi Solar
Ishver Dholakiya, Founder & Managing Director of Goldi Solar, said, "This landmark investment marks a transformative chapter for Goldi Solar. With the backing of visionary partners like Havells and other esteemed investors, we are empowered to scale new heights in solar manufacturing and innovation. Together, we will drive the next wave of growth, setting new benchmarks in governance, sustainability, and performance."
Capacity up fivefold; Surat plant in focus
Goldi Solar has expanded its Solar PV Module manufacturing capacity by nearly fivefold -- from 3 gigawatts (GW) to 14.7 GW -- over the last 12 months and is developing solar cell manufacturing expansions in Surat, Gujarat.
The company will continue to introduce high-efficiency solar PV modules and cells incorporating emerging technologies to meet India's growing clean energy needs.
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Published on October 29, 2025
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