Goldi Solar, a leading solar photovoltaic (PV) module manufacturer, has raised ₹137.5 Cr from Nikhil Kamath, co-founder of Zerodha. The investment will support the company’s backward integration into solar cell production, as announced by its parent entity Goldi Star.
Founded in 2011 by Ishverbhai Dholakia, Goldi Solar has emerged as one of India’s fastest-growing renewable energy companies, with operations spanning 20+ export markets. The company’s module manufacturing capacity has surged from 3 GW to 14.7 GW in just the past year, making it one of the largest in the country.
Alongside manufacturing, the Surat-based company also offers Engineering, Procurement, and Construction (EPC) services and runs extensive CSR initiatives—including supporting schools and providing mid-day meals to students.
Goldi Solar plans to set up a large-scale solar cell manufacturing facility by 2026, as part of its strategy to strengthen India’s renewable energy ecosystem. It is also targeting the development of a 1 GW Solar Park (IPP) by FY 2025–26.
The company reported approximately ₹3,500 crore in revenue and ₹59.38 crore in profit for the fiscal year ending March 2024. Its FY25 annual report is yet to be filed.
Nikhil Kamath said:
“Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition.”
Looking ahead, Goldi Solar aims to introduce high-efficiency PV modules and advanced solar cell technologies, catering to both domestic and global markets.
By: Arushi Agarwal
