Oswal Pumps Greenlights ₹456 Cr Solar Expansion

Haryana-based Oswal Pumps has greenlit plans to set up a 1.2 GW TOPCon solar cell manufacturing facility through its subsidiary, Oswal Solar Energy (OSEPL).

Scheduled to begin production by April 2028, the entire output of the facility is designated for captive consumption to feed the company’s existing solar module manufacturing lines. The project represents an estimated investment of Rs 456 crore, partially funded by Rs 159.85 crore from unutilised initial public offering (IPO) proceeds. This strategic move is designed to secure a steady, high-efficiency supply of solar cells that fully comply with domestic content requirement (DCR) norms.

Additionally, Oswal Pumps intends to scale up operations at its EVA Encapsulant Facility by deploying capital into OSEPL to fully utilise its remaining 300 MW capacity.

News by Rahul Yelligetti.