GREW Solar Raises Rs 1,050 Cr from Overseas Investors for Global Expansion

GREW Solar, an integrated solar module manufacturer, raised Rs. 1,050 Crores in a new funding round led by Bay Capital Investment Limited, with participation from two institutional investors.

In a press release, Grew Solar shared plans to use the funding raised in the latest round to strengthen ongoing operations, support its expansion initiatives, and accelerate its goal to become a fully integrated solar manufacturer. 

It also aims to use a significant portion of the investment to expand its solar cell manufacturing facility and increase its cell manufacturing capacity from the planned 3 GW to 8 GW.

Grew Solar said the latest capital infusion follows the company’s earlier Rs. 300 crores funding rounds from marquee investors, including Vijay Kedia and Rohit Kothari of GeeCee Holdings. It planned to deploy its earlier funding towards new product development, strengthening technological infrastructure, and funding expansion plans.

Expanding Manufacturing Capacity 

Moreover, GREW Solar is aiming to boost its manufacturing capacity with major expansions already underway at both its Dudu and Madhya Pradesh facilities to support integrated, end-to-end solar production.

With strong investor support, ongoing capacity expansion, and a continued emphasis on manufacturing, GREW Solar is poised to play a key role in shaping India’s renewable energy landscape and evolve as a key global solar partner.

Speaking on the development, Vinay Thadani, CEO & Director, GREW Solar, said, “This investment strongly endorses GREW Solar’s manufacturing capabilities, growth vision, and commitment to building a globally competitive solar manufacturing ecosystem from India. With this capital, we are well-positioned to accelerate our expansion, improve operational efficiency, and further strengthen our technology and scale.

Thadani added, "This initiative will help position India as a reliable global source of technical expertise and high-quality solar modules, while contributing meaningfully to the nation’s renewable energy targets.”