Jakson Solar plans to invest up to 50 billion rupees ($525.2 million) to build 3 gigawatts (GW) each of solar cell and ingot-wafer manufacturing capacity, a top company executive said.
Jakson Solar aims to commission 3 GW of solar cell manufacturing capacity by December 2027, Managing Director Ivan Saha said on the sidelines of the Renewable Energy India Expo.
The company plans to set up 3 GW of solar ingot and wafer manufacturing capacity by the third quarter of fiscal year 2028.
The facilities will primarily cater to the merchant market, Saha said.
Jakson Solar already has a 1.2 GW solar module-making plant.
Equipment procurement tie-ups for manufacturing have already been secured, Saha said.
Developing a domestic manufacturing ecosystem across the solar chain is necessary to avoid potential supply shocks, Saha said.
India, which is counting on solar energy to help achieve its 2070 net-zero emissions target, has already mandated the use of domestically manufactured solar modules and cells.
The government has also laid out a framework to extend local-content requirements to solar ingots and wafers from June 1, 2028, in a move aimed at deepening domestic manufacturing and reducing import dependence on China.