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Solar energy and power backup solutions provider Fujiyama Power Systems is setting up a 1.2 GW solar cell manufacturing facility in Madhya Pradesh as part of its 2030 vision to become an integrated renewable energy player, its MD Pawan Garg said.
The greenfield project is expected to start solar cell production using advanced TopCon technology by the end of the ongoing fiscal year, the official told PTI in an interaction.
Post start of the commercial operations, the company's total cell capacity will reach 2.3 GW. Fujiyama operates a 1.1 GW cell plant in Dadri, Uttar Pradesh.
Tunnel Oxide Passivated Contact (TOPCon) technology is more efficient than conventional solar cell architectures, specifically Passivated Emitter and Rear Cell (PERC).
"We are setting up a new 1.2 GW solar cell manufacturing plant at Ratlam in Madhya Pradesh. This backward integration project will strengthen our value chain, reducing dependence on the open market," Garg said.
The project is being set up with an investment of around Rs 350- 400 crore as part of the company's 2030 vision, which also includes setting up ingot and wafer lines going forward in line with government ALMM initiatives to promote the local solar value chain, he said, adding the move will help the company reduce input cost for solar module making, he said.
Fujiyama operates a total of 3.6 GW module capacity – 2 GW in Ratlam, 1.2 GW at Dadri, and 0.4 GW at Noida. Manufacturing of modules requires solar cells. Cell making requires wafers and ingots.
The Approved List of Models and Manufacturers (ALMM) Order, 2019 is a quality-and-reliability framework that ensures solar equipment used in the country's solar projects meets domestic manufacturing standards.
While ALMM I was for modules, ALMM II included cells and ALMM III, which is planned for 2028, has been extended to ingot and wafers as well to boost domestic production, reduce import dependence and enhance quality across the solar value chain, positioning India as a strong global player in renewable energy.
Fujiyama Power Systems is one of India's leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, solar inverters, lithium-ion and tubular batteries.
In FY26, the company reported a topline of Rs 2,654 crore, while EBITDA stood at Rs 490 crore and profit after tax was Rs 304 crore.
Published on September 27, 2026
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