GREW Solar has raised INR 1,050 crore in a new funding round led by Bay Capital Investment Ltd, with participation from two other institutional investors. The company said it will use a significant portion of the proceeds to expand the manufacturing capacity of its upcoming PV cell facility from 3 GW to 8 GW.
Grew Solar module production line
Grew Solar
GREW Solar, an integrated solar PV module manufacturer in India, has successfully raised INR 1,050 crore in a new funding round led by Bay Capital Investment Ltd, with participation from other two institutional investors. This latest capital infusion follows the company’s earlier INR 300 crore funding secured from marquee investors, including Vijay Kedia and Rohit Kothari of GeeCee Holdings.
The company said the new funds will be utilized to strengthen its ongoing operations, support strategic expansion initiatives, and accelerate its journey toward becoming a leading fully integrated solar manufacturer. A significant portion of the investment will be directed toward expanding the solar cell manufacturing capacity from the planned 3 GW to 8 GW.
“This investment strongly endorses GREW Solar’s manufacturing capabilities, growth vision, and commitment to building a globally competitive solar manufacturing ecosystem from India,” said Vinay Thadani, CEO & director, GREW Solar. “With this capital, we are well positioned to accelerate our expansion, improve operational efficiency, and further strengthen our technology and scale.”
GREW Solar is significantly boosting its manufacturing capacity with major expansions underway at both its Dudu and Madhya Pradesh facilities to support integrated, end-to-end solar production.
GREW Solar, a venture of the Chiripal Group, currently operates a 6.5 GW PV module manufacturing facility in Dudu, Rajasthan, and plans to scale capacity to 11 GW by the end of 2026. The company is also setting up a solar PV cell plant in Narmadapuram, Madhya Pradesh, with an initial capacity of 3 GW, which it intends to expand to 8 GW by the end of 2026.
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