India-based Gautam Solar, a solar manufacturer, has announced an investment of INR 4,000 crore (~$453.82 million) to establish a 5 GW solar cell manufacturing plant in Gwalior, Madhya Pradesh. The project is spread across 54 acres and is focused on producing advanced TOPCon solar cells. Implementation has already started with Phase 1, which includes 2 GW of manufacturing capacity and is scheduled for completion by 2026. After Phase 1, Gautam Solar has planned to launch an IPO to raise funds for Phase 2, which will add another 3 GW of capacity. The company also outlined its vision to expand into solar wafer manufacturing, aiming to develop a fully integrated solar value chain in India. Gautam Solar’s current solar module capacity is 3.2 GW and is targeted to reach 5 GW by FY2025-26.