India’s a solar energy company,UTL Solar, planning to investINR500 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.