Gujarat-based solar module manufacturer RAYZON Solar Ltd is set to commence production at its 5.1 GW TOPCon solar cell manufacturing facility in December 2026, with initial deliveries expected in the first quarter of 2027. The facility marks the company’s expansion beyond module manufacturing as it seeks to strengthen backward integration and reduce its reliance on imported solar cells.
Founded in 2017 by Chirag Nakrani and Hardik Kothiya, RAYZON Solar has an installed solar module manufacturing capacity of 11.3 GW.
The company said it remains focused on executing its manufacturing roadmap and building capabilities across the solar value chain despite a shift from IPO proceeds to debt financing amid market volatility.
Looking ahead, RAYZON Solar plans to further expand its upstream manufacturing operations with a proposed 5.1 GW ingot casting and wafer slicing facility, targeted for development by 2028. The company is in discussions with multiple state governments to evaluate incentives and finalise a suitable location for the proposed project.
“The commissioning of our 5.1 GW TOPCon solar cell manufacturing facility in December 2026 will mark an important milestone in RAYZON Solar’s journey towards deeper backward integration,” said Chirag Nakrani, Co-Founder, RAYZON Solar. “As we advance our cell manufacturing plans, our next phase of expansion will focus on a proposed 5.1 GW ingot casting and wafer slicing facility, targeted for 2028. We are engaging with multiple states to assess incentives and finalise the location for this proposed investment.”
Alongside its solar cell expansion, RAYZON Solar has completed an aluminium extrusion and anodising facility with an annual capacity of 19,800 metric tonnes for manufacturing solar module frames.
The company is also investing in research and development, with three patent filings over the past year. Its R&D programme includes work on tandem-junction solar cell technology and nano-coatings for next-generation solar modules, with product launches targeted by 2028.
Hardik Kothiya, Co-Founder, RAYZON Solar, said, “Our strategy is centred on building a technologically advanced and increasingly integrated solar manufacturing ecosystem in India. By expanding from modules into TOPCon cell manufacturing, and subsequently exploring upstream integration through ingot and wafer manufacturing, we aim to strengthen domestic capabilities, reduce import dependence and enhance our competitiveness in global markets. Combined with investments in research and development, these initiatives reflect our long-term commitment to India’s renewable energy ambitions and the future of solar manufacturing.”
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