Goldi Solar Pvt. Ltd., one of India’s largest solar photovoltaic (PV) module manufacturers, has announced a landmark growth capital infusion led by Havells India Limited, alongside a consortium of high-net-worth individuals (HNIs), institutional, and strategic investors. The funding reflects strong investor confidence in Goldi Solar’s rapid growth, governance standards, and its expanding role in advancing India’s clean energy transition.

Havells India Limited, a leading electrical equipment manufacturer known for its focus on innovation and sustainability, spearheaded the investment. The partnership underscores Havells’ strategic intent to strengthen India’s renewable energy ecosystem and promote technological excellence in solar manufacturing. By joining hands with Goldi Solar, Havells aims to accelerate the adoption of high-efficiency solar technologies and contribute to national renewable energy goals.

The funding round also saw participation from Ambit Global Private Client, Nikhil Kamath, Shahi Exports Private Limited, SRF Transnational Holdings Limited, Karmav Real Estate Holdings LLP, NSFO Ventures LLP, and Godwitt Construction Private Limited. SBI Capital Markets Limited served as the financial advisor for the transaction, while Saraf and Partners acted as legal counsel to Goldi Solar.

The investment will enable Goldi Solar to expand its manufacturing capacity, strengthen backward integration into solar cell production, and advance innovation in high-efficiency solar technologies. It will also support the company’s go-to-market expansion and reinforce its position as a global renewable energy leader.

Commenting on the development, Capt. Ishver Dholakiya, Founder and Managing Director of Goldi Solar, said, “This landmark investment marks a transformative chapter for Goldi Solar. With the backing of visionary partners like Havells and other esteemed investors, we are empowered to scale new heights in solar manufacturing and innovation. Together, we will drive the next wave of growth, setting new benchmarks in governance, sustainability, and performance.”

Goldi Solar has expanded its PV module manufacturing capacity nearly fivefold—from 3 GW to 14.7 GW—within the past year. The company is also developing solar cell manufacturing facilities in Surat, Gujarat, as part of its long-term strategy to advance domestic renewable manufacturing and contribute to India’s clean energy future.