Cosmic PV Presses Accelerator On Solar Cell Line, BESS Plans, IPO On the Horizon

Surat-based solar module manufacturer Cosmic PV Power Pvt. Ltd. continues to race where others are jogging. Led by co-founders Shravan Gupta and Jenish Ghael, the firm has grown at a fast clip since it was started, barely 5 years ago. From 250 MW in 2022, module production has reached 3 GW levels now, and the firm has evolved to carve a special niche as an OEM supplier to leading players during this time. The business model has served the firm well, providing it dependable demand and predicatable margins. This has been enabled by a strong focus on keeping up with market trends, besides quality that has ensured qualification for ALMM entry as well early on.   

Building on that reputation and learnings, the company  is eyeing its maiden solar cell line of 2 GW, followed by an Initial Public Offering (IPO) in 2026. While the cell line is driven by a need to keep up with the changes in the market post the full implementation of the ALCM regulations, the firm has done very well to manage hectic growth without losing momentum. Future plans include venturing into the energy storage space with Battery Energy Storage Systems (BESS) production as well. These were some of the key announcements made during the company’s 5th Foundation Day celebrations in Surat on Thursday.

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An IPO will mark one of the quickest journeys from founding to going public for the Gujarat based firm, and one of the fastest solar based manufacturing startups to do so. In doing this, the firm also plans to expand module capacity to 5 GW. The BESS plant is expected to start with an initial capacity of 2 GWh by 2026, to be expanded to 4 GWh by 2027. 

The foundation day celebrations was a time to look back and announce plans for its employees, as articulated by Director Sharavan Gupta. The programme also featured a felicitation ceremony for employees and partners, followed by a vote of thanks by Directors Surabhi Sahu and Maitry Ghael.