GREW Solar, backed by the Chiripal Group, has secured INR 1,050 crore (~ $115.73 million) in a funding round led by Bay Capital Investment Limited and two other institutional investors. The capital will support the company’s next phase of manufacturing expansion. It will be used to increase solar cell capacity at the Narmadapuram, Madhya Pradesh facility from 3 GW to 8 GW by the end of 2026. They will also support operational improvements and the company’s progress toward full vertical integration. In parallel, the company is expanding production at its Dudu, Rajasthan plant which is being scaled to 11 GW capacity. In a separate development, GREW Solar also secured a INR 2,028 crore module supply contract from NTPC Renewable Energy.