Alpex Solar to Set Up New 1.2 GW Solar Module Plant in UP
The company's board has approved the project, which will increase its total solar module manufacturing capacity to 3.6 GW.
Alpex Solar to Set Up New 1.2 GW Solar Module Plant in UP
New Delhi, Aug 13 — Renewable company Alpex Solar Ltd announced plans to set up a new 1.2 GW solar module manufacturing facility in Mathura, Uttar Pradesh, as part of its expansion strategy to meet growing demand for renewable energy solutions.
The company's board has approved the project, which will increase its total solar module manufacturing capacity to 3.6 GW. The new plant, expected to be operational by FY2026-27, will be built at an investment of Rs 110 crore, funded through a mix of internal accruals and credit facilities.
The expansion comes on the back of strong financial performance in the first quarter of FY26. Alpex Solar reported a consolidated net profit of Rs 42.29 crore for Q1FY26, a 40-fold increase from Rs 1.06 crore in the year-ago period. Revenue surged 396 per cent year-on-year to Rs 382.58 crore compared to Rs. 77.09 crore in Q1FY25, driven by higher demand and improved operational efficiency. EBITDA surged by 1403% to Rs 64.85 crore from Rs. 4.31 crore a year ago. Basic earnings per share stood at Rs 17.28, compared with Rs 0.43 in Q1 FY25.
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Commenting on the development, Mr. Ashwani Sehgal, Managing Director, Alpex Solar Ltd said: “Our performance in Q1 FY26 reflects the resilience of our business model and the growing demand for sustainable energy solutions. Supported by our strong execution capabilities and an expanding order book, we remain focused on scaling our operations, enhancing efficiency, and delivering long-term value for our stakeholders. With favourable policy tailwinds and a robust project pipeline, we are confident of sustaining our growth momentum in the quarters ahead and become an integral solar module and solar cell manufacturer."
To fund this growth, the company is raising Rs 261.16 crore through a preferential allotment of equity and warrants, as approved in the Board meeting held on 6 August 2025. An Extraordinary General Meeting (EOGM) is called on 28 August 2025 to seek members’ approval.
Read Also : Alpex Solar to Set Up New 1.2 GW Solar Module Plant in UPAlpex Solar has recorded a robust order inflow of Rs 1,555.03 crore for FY26, underscoring its strong market presence and growing demand for its products. The portfolio includes Rs 45 crore from MSEDCL for 2,000 solar water pumps under the Magel Tyal Saur Krushi Scheme, Rs 210.71 crore from SECI for high-efficiency solar PV modules, Rs 65.33 crore from HAREDA, and Rs 244.99 crore from CMPDIL, representing a 70% share of a Rs 349.99 crore tender. In addition, the company secured Rs 989 crore worth of contracts from three leading manufacturers, further cementing its position as a key player in the renewable energy sector.
Alpex Solar, listed on NSE Emerge, currently operates six manufacturing units across India, namely, Greater Noida (Unit 1), Kosi-Kotwan (Units 2–4), Eco-Tech, Greater Noida, (Unit 5), and Madhya Pradesh (Unit 6).
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