PVTIME – Alpex Solar Ltd (ALPX), a leading Indian solar energy firm, has announced plans to build a new 1.2 GW solar module factory in Mathura, which marks a significant step in the company’s strategic expansion.
As a publicly listed company, Alpex Solar has disclosed this substantial investment, with the new facility poised to boost its total production capacity to 3.6 GW upon completion. Scheduled to be operational in the 2026–27 financial year, the project is expected to cost around 1.1 billion rupees (94 million yuan).
This move forms part of a broader business expansion strategy. The company has also revealed that a new aluminium frame manufacturing plant is on track to open in December 2025, with production expected to commence in the same month.
Alpex Solar currently operates six factories and has long-term ambitions to establish a 6GW annual capacity facility in India, supported by a detailed phased implementation timetable. Under this plan, the company intends to increase its cell capacity by 500 MW by October 2025, scaling up gradually to 1 GW thereafter and ultimately achieving a nominal annual capacity of 6 GW by 2026.
This expansion follows strong performance growth driven by the thriving Indian photovoltaic market. According to figures previously released, Alpex Solar’s revenue in the third quarter of 2024 surged by 137.22% year-on-year, while net profit increased by 422.96%. In the first nine months of the 2025 financial year, the company maintained this upward trajectory, with net profit growing by 302.2% year-on-year and revenue increasing by 55.2%.
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