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Backed by the Chiripal Group, GREW Solar commenced operations in 2022 with 1.2 GW module manufacturing capacity.
GREW Solar has raised ₹1,050 crore in a funding round led by Bay Capital Investment Limited and two other institutional investors, the company announced on Friday. The capital will be used to scale its solar cell manufacturing capacity from 3 GW to 8 GW at its Narmadapuram facility in Madhya Pradesh.
The integrated solar PV module manufacturer had previously raised ₹300 crore from investors including Vijay Kedia and Rohit Kothari of GeeCee Holdings. The latest investment will support operational strengthening and strategic expansion as the company works toward becoming a fully integrated solar manufacturer.
GREW Solar CEO and Director Vinay Thadani said the funding validates the company’s manufacturing capabilities and growth strategy. The investment will enable acceleration of expansion plans, improved operational efficiency, and technology enhancement.
The company is expanding production at facilities in Dudu, Rajasthan, and Madhya Pradesh. The Dudu plant is being scaled to 11 GW capacity, while the Narmadapuram facility will initially establish 3 GW of solar cell manufacturing capacity before expanding to 8 GW by end of 2026.
Backed by the Chiripal Group, GREW Solar commenced operations in 2022 with 1.2 GW module manufacturing capacity. The company currently operates 3 GW capacity producing TOPCon modules of up to 590 Wp.
Published on February 13, 2026
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