Corporate News
The company is shifting its investment strategy, redirecting Rs 4,200 million of unutilized funds from a planned investment in Kartik Solarworld Private Limited’s Pandhurana Project to a new 50/50 joint venture with Rays Power Infra Limited, named Rays Green Energy Manufacturing Private Limited. The new venture will establish a 2.4 GW Solar PV n-type TOPCon G12R cell manufacturing plant in Madhya Pradesh, requiring a total investment of Rs 10,000 million, compared to the original project’s estimated cost of Rs 5,752.99 million. Land for the facility, spanning 41.30 acres, has already been secured, and construction is underway with commercial production anticipated to begin in June 2027. The shift represents a significant increase in production capacity and a move to more advanced cell technology, with cost estimates based on an exchange rate of Rs 94.47 per USD as of September 3, 2026.