Novasys Aims At 2.6 GW Of TOPCon Module Capacity By FY26

Novasys Aims At 2.6 GW Of TOPCon Module Capacity By FY26

Maharashtra-based solar module manufacturer Novasys is now aiming to scale up its solar module manufacturing with TOPCon technology to 2.6 GW by the end of the financial year 2025-26. The top management of the firm told Saur Energy about its expansion plans, including their preparedness to launch solar cells and IPO (Initial Public Offering).

Ashok Singh, President (Solar Business) at Novasys told Saur Energy, “We will soon begin operations at a 600 MW TOPCon manufacturing facility, with plans to add another 2 GW within the next six months. By the end of this year, we aim to have a total of 2.6 GW TOPCon capacity. We also have a 600 MW mono PERC line currently operational,” he added.

The company recently flaunted its 600Wp of TOPCon-based modules at the RenewX event in Chennai. It has also planned to take up the peak capacity of the modules to around 650Wp.

“We believe glass-to-glass TOPCon modules are the future. They ensure better generation and higher durability. The 600 Wp variant we’re showcasing is just the beginning. We may go up to 650Wp and are planning to procure the BIS certification up to that capacity,” he added.

Solar Cell Manufacturing 

The company is also preparing to enter solar cell manufacturing. “We’ve finalized land for our solar cell line. Typically, it takes 1.5 to 2 years to set up cell manufacturing. We expect to begin production between March 2027 and March 2028,” Singh said.

On Novasys’ capital plans, Singh confirmed that IPO preparations are complete, with all documents submitted to consultants. “The share market is currently subdued, so we are holding back. But we plan to initiate the IPO process between December and January,” he said.

Singh noted that Novasys sees a significant opportunity in South India but acknowledged current challenges. “The southern market is different—customers are more quality-conscious and prefer the latest technologies. However, we are still building our supply chain strength in the region,” he said.

DCR issues 

Singh also pointed out ongoing challenges in meeting DCR (Domestic Content Requirement) obligations under government schemes like PM Surya Ghar and PM-KUSUM, due to the shortage of domestic solar cells.

“The P-type DCR supply remains a challenge. Many players are upgrading their capacities, but it could take another 12 to 18 months for the industry to fully meet DCR requirements,” he said.