From 100 MW to 1200 MW-Macwin Solar On Expansion Drive

By Saur News Bureau/ Updated On Tue, Oct 22nd, 2024

In another addition to India’s expanding solar manufacturing infrastructure, Surat-based Macwin Solar Energy has announced the expansion of its solar panel manufacturing capacity, along with the launch of a new high-tech facility. the firm currently has a capacity of 100MW at its 10,000 square feet plant in Surat.

Established in 2013 as a textile business by Hardik Budheliya, the expansion into Solar was initiated in April 2021 by the founder. Not surprising considering the sheer volume and success solar manufacturers in Gujarat have demonstrated this decade. Importantly, Budheliya is going for Topcon glass to glass based expansion for the expansion, ensuring a ready market in India and abroad post completion.

Macwin’s new manufacturing facility, equipped with cutting-edge technology, aims to increase its output to 600MW by February 2025, with plans to reach 1.2 Gigawatts by 2025 end. The facility will also include a solar panel recycling plant, an investment into the future as well as a circular economy.

Macwin Solar has been offering a range of solar panels until now, with power outputs ranging from 5W to 550W, catering to residential, commercial, and industrial customers.

The higher capacity will need a pan-India distribution and warehouse setup that the company is preparing for, even as the focus remains on project developers for now, rather than retail segment. Funding for the expansion has come from internal accruals and bank funding, and the firm has not planned a foray into cell manufacturing as yet, preferring instead to establish its modules in the market first.

The boom in module manufacturing capacity in India has supported the growth of quite a few startups with young founders who see a fulfilling opportunity here. Macwin’s Hardik Budheliya no doubt hopes to make an impact as well, and has shown the commitment and risk appetite to back intent with action. A company to watch for the future.