Jakson Solar Plans $525 Million Investment in Solar Manufacturing

Jakson Solar plans to invest up to ₹50 billion ($525.2 million) in 3 GW solar cell and 3 GW ingot-wafer manufacturing facilities, expanding domestic production and supporting India's efforts to reduce import dependence.

Indian renewable energy company Jakson Solar plans to invest up to ₹50 billion ($525.2 million) to establish manufacturing facilities for solar cells, silicon ingots and wafers, expanding its presence across India's solar supply chain. The proposed investment will create 3 gigawatts (GW) of annual manufacturing capacity each for solar cells and ingots and wafers, Managing Director Ivan Saha said on October 26, 2026, on the sidelines of the Renewable Energy India Expo.

The company aims to commission its 3 GW solar cell manufacturing facility by December 2027. Its planned ingot and wafer manufacturing capacity is expected to be established by the third quarter of the 2028 financial year. The facilities will primarily serve the merchant market, supplying products to buyers rather than exclusively meeting the company's internal requirements.

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Jakson Solar already operates a solar module manufacturing plant with 1.2 GW of capacity. The company has also secured equipment procurement arrangements for the planned manufacturing expansion, according to Saha. The new facilities would extend its operations beyond module production into upstream components essential to solar panel manufacturing.

Solar cells convert sunlight into electricity, while silicon ingots and wafers are intermediate materials used to manufacture these cells. Building domestic capacity across these stages could help strengthen India's solar manufacturing ecosystem and reduce exposure to supply disruptions. Saha said developing an integrated domestic supply chain was important to prevent potential shortages.

The investment comes as India seeks to reduce its dependence on imported solar components, particularly from China. The government has already introduced domestic manufacturing requirements for solar modules and cells, with a framework to extend local-content requirements to solar ingots and wafers from June 1, 2028.

India's efforts to expand renewable energy capacity have increased demand for domestically manufactured solar equipment. However, insufficient local cell production has created supply constraints for some module manufacturers, highlighting the need to expand manufacturing capacity across the value chain. New facilities such as those planned by Jakson Solar could contribute to addressing these gaps as they become operational.

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The proposed ₹50 billion investment marks a significant expansion of Jakson Solar's manufacturing ambitions. By developing cell, ingot and wafer production capabilities, the company aims to participate in more stages of the solar supply chain as India strengthens its domestic renewable energy manufacturing base.