Icon Solar Picks Odisha For Solar Cell Plant, Eyes Module Expansion

Icon Solar Picks Odisha For Solar Cell Plant, Eyes Module Expansion

Indian solar module manufacturer Icon Solar has picked Odisha for its proposed 2 GW solar cell plant. The company is now optimistic about commissioning its solar cell line in the next 14 months. The top management of the firm, in an exclusive conversation with Saur Energy, explained their next course of action.

Shakti Dubey, Director of the company, told Saur Energy that they are in their final stages of starting work on their proposed site in Odisha. The company has planned to produce solar cells from Gopalpur in the Ganjam district of Odisha.

“Our next focus is on setting up a cell line. We are in the final stages of discussions with the Odisha government. It will take about 14 months for the facility to become operational,” Dubey stated. The upcoming plant, with a capacity of 2 GW, will be based on TOPCon technology.

Why Odisha for solar cells? 

Explaining the choice of Odisha as a location, Dubey said, “We chose Odisha because the government has developed a region in Gopalpur with all clearances in place. They are offering ready infrastructure with plug-and-play facilities. While subsidies are important, the state’s ease of doing business, single-window clearances, and land parcel availability make it very attractive for setting up solar cell manufacturing.”

Dubey noted that although electricity tariffs in Odisha are not the cheapest in India, the availability of skilled manpower, reduced operational challenges, and proximity to ports within 30 kilometers greatly favor the logistics and overall setup. “Ports nearby will help us with both exports and imports,” he added.

Looking ahead, Dubey revealed that Icon Solar is also exploring backward integration. “Once we establish the solar cell facility, we may expand to solar module manufacturing at the same site, and we are considering setting up ingot and wafer production from Odisha as well.”

While financing is not a major challenge for solar cell production at present, Dubey highlighted that securing skilled manpower is a growing concern. “As many players are now entering solar cell manufacturing, skilled manpower is becoming scarce. We plan to arrange training programs through machine suppliers to ensure we have enough trained professionals for our operations,” he said in an interview with Saur Energy

2.6 GW Of Module Capacity Soon 

Icon Solar is aggressively expanding its operations with plans to commission 2 GW of new production capacity by June 2025, bringing its total capacity to 2.6 GW. Currently, the company operates 600 MW of manufacturing capacity, producing both Mono PERC and TOPCon modules, with outputs of 550 Wp and 590 Wp, respectively, across both DCR and non-DCR categories.

“We have 600 MW of capacity, producing Mono PERC and TOPCon modules,” said Shakti Dubey, Managing Director of Icon Solar. “By June, we plan to add another 2 GW, reaching a total of 2,600 MW.”

IPO In Next 1.5 Years

The company is also eyeing the capital markets. “After 1.5 years, we may launch an IPO. For now, we are managing on our own,” Dubey said. On the technology front, he added, “We may plan to introduce back-contact TOPCon technology in the coming days. HJT production is quite challenging, so after TOPCon, we may consider TOPCon with backsheets.”