Alpex Solar announced its expansion plans to double its photovoltaic solar module capacity to 2.4 GW by FY2025-26.

A greenfield project of 1.2 GW solar PV modules capacity will be installed in the company's newly acquired land parcel at Kosi Kotwan, Mathura in Uttar Pradesh, a statement said. The company will also explore a foray into solar cell manufacturing in the range of gigawatt capacity.

The new project will be funded through internal accruals and loans. Once the new line is set up, the company expects a capacity of 2.4 GW by FY2026, enabling it to meet the growing demand in India and other key global markets.

The company aims at deeper integration with the solar cell foray building upon its presence in solar PV modules and aluminium frames.

Ashwani Sehgal, Managing Director, Alpex Solar said, "We are exploring the foray into solar cell manufacturing. This may afford us multiple advantages, including cost, profitability, and branding, and boost our ability to offer turnkey services to the end user."