India’s a solar energy company, UTL Solar, planning to invest INR500 crore (~$59.4) over the next four years to establish a 5 GW solar manufacturing facility in Ratlam, Madhya Pradesh. The facility, spanning 100 acres along the Delhi-Mumbai Expressway, will produce solar panels, inverters, and batteries. UTL Solar aiming to increase its annual capacity by 1-1.5 GW across all solar products. Currently, the company has a 1 GW capacity in solar batteries and inverters, with plans to reach 1 GW in solar panel production soon. UTL Solar also plans to add 500 MW of solar panel capacity in the next 3-5 months. The Ratlam plant will primarily be funded through internal accruals and bank loans.
UTL Solar expands its 5 GW solar facility in India
The new facility will expand UTL Solar’s capacity by 1-1.5 GW annually and cover 100 acres along. (Image Credit/Source: mrganso/Pixabay)
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