MP Govt Grants 60 Acres of Land to Cosmic PV Power for Solar Cell Manufacturing

Gujarat-based solar module manufacturer Cosmic PV Power has been granted 60 acres of land by the Madhya Pradesh government. The state government allocated the land to the solar company to commence solar cell production. With the proposed addition of solar cell manufacturing under its arm, the company, led by Shravn Gupta and Jenish Ghael, is set to bolster its backward integration.

The company, which has multiple module manufacturing units in the state, is already producing mono-PERC and TOPCon-based solar modules from its factories and is buoyed by a strong order book. The inclusion of solar cell production is set to give the company a shot in the arm, ensuring more production diversification, an additional source of revenue, and the added advantage of better margins when the ALCM comes into effect.

Project At Narmadapuram 

“We are delighted to announce a landmark achievement in the growth journey of Cosmic PV Power Limited. The Government of Madhya Pradesh has officially allotted 60 acres (approximately 242,811 sq. meters) of prime industrial land in the Manufacturing Zone of Narmadapuram to our company,” the top management of the company told Saur Energy.

The management said that the new facility will enable them to:

• Establish a state-of-the-art manufacturing facility of 4 GW solar cells (in a phased manner), enhancing production capacity and efficiency.
• Diversify its product portfolio and strengthen its vertical integration in solar and energy-related manufacturing.
• Generate substantial employment opportunities and contribute to regional industrial growth.
• Position Cosmic PV Power Limited among the top industry leaders in India’s clean energy revolution.

Enhancing Market Presence 

“This development will significantly boost our growth trajectory multifold, enhancing both our market presence and shareholder value. It stands as a testament to our vision of creating a self-reliant, sustainable future powered by innovation, integrity, and excellence,” the company said.

The company had earlier announced its plans to foray into solar cell manufacturing and was exploring suitable land for the project. It has also announced plans to venture into the stock market by issuing an IPO soon.