Navitas Solar plans to establish 3.6 GW of solar cell manufacturing capacity, with the first 2.4 GW phase scheduled to become operational in the third quarter of FY 2028. The company has secured growth capital of up to $20 million from Swiss impact asset manager responsAbility to support the first 2.4 GW phase of the total planned cell capacity.
Navitas currently has 3 GW of installed solar module manufacturing capacity. The planned cell manufacturing facility is expected to strengthen its backward integration and expand its presence across the solar manufacturing value chain.
The investment is part of responsAbility’s Asia Climate Fund, which targets scalable private-sector solutions that deliver measurable CO₂ emissions reductions and positive societal impact in high-growth markets.
As part of its next growth phase, Navitas has also partnered with Caelux to develop perovskite-TOPCon hybrid tandem solar modules. Under the agreement, Navitas will integrate Caelux’s perovskite-coated front glass with its n-type TOPCon module technology to manufacture hybrid tandem modules targeting efficiencies of up to 28%, compared with around 25% for conventional TOPCon modules.
Navitas Solar’s agreement targets 5 GW of hybrid tandem module manufacturing, with commercial production expected to begin in 2028. Founded in 2013 and headquartered in Surat, Gujarat, Navitas Solar manufactures mono PERC and n-type TOPCon modules with power ratings of up to 720 W.
The company has expanded its operations across solar module manufacturing, encapsulant production, engineering, procurement and construction (EPC) services, battery energy storage systems (BESS), and renewable power generation. Its planned entry into solar cell manufacturing is expected to deepen its integration across the solar value chain. Navitas also plans to expand further upstream into wafer and ingot manufacturing.
Vineet Mittal, Director at Navitas, said the company’s backward integration into solar cells will strengthen domestic supply chains and can create greater value addition within India. “Our work in high-efficiency TOPCon technology and our partnership with Caelux on Perovskite-TOPCon Hybrid Tandem modules reflect our ambition to build advanced technologies that can compete globally. We see this partnership with responsAbility as an important step towards realizing that ambition responsibly and sustainably,” said Mittal.
“As Navitas scales, we want to build an organisation that is not measured only by capacity, revenue or profitability, but also by how responsibly and sustainably that growth is achieved. Strong governance, environmental stewardship, responsible employment practices and a positive contribution to the communities and ecosystem around us will remain integral to building Navitas as a long-term institution,” said Vijay Menon, COO, Navitas Solar. “Securing funding from responsAbility is a validation of the hard work done so far and demonstrates our commitment to continued excellence and improvement.”
Kartik Jain, head of finance at Navitas Solar, said the funding would help strengthen the company’s financial position and support its expansion plans.
“This partnership reflects the confidence of a leading climate-focused investor in our business fundamentals, our execution capabilities, financial strategy, and the long-term growth potential of India’s solar manufacturing ecosystem,” he added.
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