Websol Energy Systems Announces INR 30 Billion Expansion to Add 8 GW Solar Manufacturing Capacity. Websol Energy Systems has announced a major expansion plan to add 4 GW of solar cell and 4 GW of solar module capacity through an investment of INR 30 billion. The expansion will utilize tunnel oxide passivated contact (TOPCon) technology and will be implemented in two distinct phases over the next three years.

Phased Expansion Timeline

The company's expansion strategy is divided into two phases with specific capacity targets and timelines. Phase III will add 2 GW of solar cells and 2 GW of solar module capacity by June 2027. Phase IV will subsequently add another 2 GW of solar cells and 2 GW of solar module capacity by June 2028. The combined investment of INR 30 billion, equivalent to approximately USD 340.73 million, will be funded through internal accruals and institutional lending.

This financing approach mirrors the company's established funding strategy for previous expansions.

Current Manufacturing Operations

Websol currently operates manufacturing facilities at Falta, West Bengal, where it has established a 600 MW solar cell line and a 550 MW solar module line under Phase I operations. The solar cell line is operating at an effective capacity utilization rate of 90 percent. These existing facilities were financed through a combination of internal accruals, preferential equity issuance, and loans from financial institutions.

The company is also progressing with Phase II expansion at the exact location, with an additional 600 MW solar cell line scheduled for commissioning by October 2025. This Phase II addition is being funded entirely through internal accruals and will bring Websol's total solar cell capacity to 1.2 GW upon completion.

Industry Manufacturing Landscape

India's solar manufacturing sector experienced significant growth in 2024, with the addition of 25.3 GW of solar module capacity and 11.6 GW of solar cell capacity. The manufacturing capacity additions in 2024 were primarily driven by demand from the solar project pipeline and the reimposition of the Approved List of Models and Manufacturers order from April 2024.

Based on current industry projections, monocrystalline modules are anticipated to account for over 58 percent of the annual module production capacity and 64 percent of the cell production capacity by 2027. This will be followed by TOPCon, Heterojunction, and other technologies in the manufacturing capacity mix.

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