Alpex Solar to Set Up 1.2 GW Solar Module Plant in Uttar Pradesh

Alpex Solar Ltd, a leading renewable energy company, has announced plans to establish a new 1.2 GW solar module manufacturing facility in Mathura, Uttar Pradesh, as part of its expansion strategy to meet the surging demand for clean energy solutions.

The company’s board has approved the project, which will boost its total solar module manufacturing capacity to 3.6 GW. The plant, slated to be operational by FY 2026–27, will be developed with an investment of ₹110 crore, funded through a combination of internal accruals and credit facilities.

The expansion follows a stellar financial performance in Q1 FY 2026. Alpex Solar reported a consolidated net profit of ₹42.29 crore, a nearly 40-fold jump from ₹1.06 crore in the year-ago quarter. Revenue surged 396% year-on-year to ₹382.58 crore, compared to ₹77.09 crore in Q1 FY 2025, driven by robust demand and operational efficiency gains. EBITDA rose 1,403% to ₹64.85 crore from ₹4.31 crore, while basic earnings per share climbed to ₹17.28 from ₹0.43.

“Our performance in Q1 FY 2026 reflects the resilience of our business model and the growing demand for sustainable energy solutions,” said Ashwani Sehgal, Managing Director, Alpex Solar Ltd. “With strong execution capabilities, an expanding order book, and favourable policy tailwinds, we are confident of sustaining growth and becoming an integral player in solar module and solar cell manufacturing.”

To fund its growth, the company will raise ₹261.16 crore through a preferential allotment of equity shares and warrants, as approved in the Board meeting on August 6, 2025. Shareholder approval will be sought at an Extraordinary General Meeting scheduled for August 28, 2025.

For FY 2026, Alpex Solar has secured orders worth ₹1,555.03 crore, underscoring its strong market position. This includes:

• ₹45 crore from MSEDCL for 2,000 solar water pumps under the Magel Tyal Saur Krushi Scheme.

• ₹210.71 crore from SECI for high-efficiency solar PV modules.

• ₹65.33 crore from HAREDA.

• ₹244.99 crore from CMPDIL, representing 70% of a ₹349.99 crore tender.

• ₹989 crore in contracts from three leading manufacturers.

Alpex Solar, listed on NSE Emerge, currently operates six manufacturing units across India — in Greater Noida (Unit 1), Kosi-Kotwan (Units 2–4), Eco-Tech, Greater Noida (Unit 5), and Madhya Pradesh (Unit 6).