Zerodha Co-founder Nikhil Kamath Invests Rs 137.5 Crore in Goldi Solar
Nikhil Kamath, co-founder of Zerodha, has invested Rs 137.5 crore in Goldi Solar, a Surat-based solar PV module manufacturer. Goldi Solar has nearly tripled its manufacturing capacity from 3 GW to 14.7 GW in the last 12 months and is developing solar cell manufacturing expansions in Surat, Gujarat. The investment aims to support Goldi Solar's production expansion plans, enhance its global competitiveness, and contribute to India's renewable energy goals. The company's growth aligns with India's target of achieving 280 GW of solar power by 2030.
*this image is generated using AI for illustrative purposes only.
Goldi Solar, a Surat-based solar PV module manufacturer, has received a significant boost with a Rs 137.5 crore investment from Nikhil Kamath, co-founder of Zerodha. This strategic move is set to propel Goldi Solar's expansion plans and strengthen its position in the global renewable energy manufacturing sector.
Investment Rationale
Kamath's investment decision is rooted in the immense potential he sees in India's domestic renewable energy sector. The country's ambitious target of achieving 280 GW of solar power by 2030 has created a conducive environment for growth in the solar industry.
Goldi Solar's Rapid Expansion
The investment comes at a time when Goldi Solar has demonstrated remarkable growth:
- Nearly tripled its manufacturing capacity from 3 GW to 14.7 GW in the last 12 months
- Developing solar cell manufacturing expansions in Surat, Gujarat
- Claims to be India's largest solar module manufacturer
Company Background
Founded by Ishverbhai Dholakia in 2011, Goldi Solar has established itself as a key player in India's solar manufacturing landscape. The company's rapid growth aligns with the increasing domestic demand for solar power.
Favorable Market Conditions
Several factors are contributing to the growth of India's solar industry:
- Government targets of 280 GW of solar power by 2030
- Import duties on foreign modules
- Incentives under the Production Linked Incentive (PLI) scheme
These conditions have created a favorable environment for domestic manufacturers like Goldi Solar to expand and thrive.
Impact of the Investment
The Rs 137.5 crore infusion from Nikhil Kamath is expected to:
- Support Goldi Solar's production expansion plans
- Enhance the company's competitiveness in the global market
- Contribute to India's renewable energy goals
As India continues to push for greater adoption of renewable energy, investments like this in domestic manufacturing capabilities are likely to play a crucial role in achieving the country's ambitious solar power targets.
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