Indian manufacturer Navitas Solar is increasing its solar panel capacity to 1.7 GW per year by adding a new 1.2 GW production facility. The new factory is capable of manufacturing M10 and G12 mono PERC and TOPCon modules.
Gujarat-based Navitas Solar announced that it will expand its annual solar panel production from 500 MW to 1.7 GW by the end of December.
The new 1.2 GW factory produces M10 and G12 mono PERC and TOPCon modules. It is located in Sisodara village in Bharuch district of Gujarat.
Navitas Solar has raised $5 million to expand. Wealthy individuals participated in the financing round. The main investors were the promoters of Parishi Diamond Group and Lemon Emerging Ventures.
With this expansion plan, the company announced that it plans to export its products to the United States and Europe.
At its existing 500 MW plant in Surat, Navitas Solar manufactures polycrystalline and mono-PERC solar modules ranging from 5W to 600W.