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Insolation Energy Plans To Start Wafer & Ingot Manufacturing Before MNRE Deadline: CMD Photograph: (Archive)
We currently operate three solar module manufacturing units in Jaipur. One has a capacity of 200 MW, another 750 MW, and the third 4.5 GW. This takes our total installed module manufacturing capacity to about 5.5 GW. In addition, we have planned a 4.5 GW solar cell manufacturing line at Narmadapuram in Madhya Pradesh. Alongside this, we are also setting up an aluminium frame production facility with a capacity of 18,000 metric tonnes at the same location.
We selected Madhya Pradesh primarily due to the state government’s proactive policies. The government has developed a cluster-based approach for solar manufacturing and created a dedicated ecosystem to support the industry. Manufacturers like us have benefited from support in terms of land, power and water, which are critical for such capital-intensive operations. Additionally, from a logistics standpoint, the location offers advantages compared to Rajasthan, especially in terms of connectivity to ports and other key markets.
Solar cell manufacturing is a highly complex process and cannot be set up in a short timeframe. Unlike module assembly, it involves multiple stages including chemical, thermal and electrical processes, along with utilities such as ETP, ZLD and EPW systems. In India, setting up a cell manufacturing facility typically takes 15–24 months. It requires significant technical expertise, process integration and infrastructure readiness, which makes execution challenging.
The Ministry of New and Renewable Energy had announced earlier that ALMM for cells would be implemented from June 1, 2026. Subsequently, clarity was provided in October 2025 that it would apply to new tenders where government power is involved. However, projects awarded before September 2025 and currently under execution can continue to use non-ALMM supply. At the same time, schemes under the DCR framework, such as PM-KUSUM and PM Surya Ghar, will remain unaffected as they are already mandated to use domestic content.
Solar cell pricing remains a critical factor. The manufacturing process—from wafer to cell—is complex and cost-intensive, and cannot be directly compared with China at this stage. However, as the industry matures, with improved expertise, supportive policies and availability of skilled manpower, prices are expected to decline gradually. It will take time, given the scale of investments required—typically around ₹500 crore per GW for solar cell manufacturing.
We are targeting commissioning of our solar cell manufacturing line by October 2026, and are working to accelerate timelines to align with the ALMM rollout. Beyond cells, we are also planning backward integration into ingots and wafers, with the aim of commissioning these facilities ahead of the regulatory deadlines. On the financial front, we are targeting revenues of up to ₹10,000 crore over the next three years, supported by strong operational performance and expansion across the value chain.
We are India’s leading B2B media house, reporting full-time on solar energy, wind, battery storage, solar inverters, and electric vehicle (EV)
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