Recently, the board of Indian company Websol Energy System approved a phased photovoltaic expansion plan with a total investment of 30 billion rupees. Through a wholly-owned subsidiary, the company will expand its manufacturing capacity to 4GW of cells and 4GW of modules to meet the rapidly growing domestic demand for solar power generation in India. The additional cell production capacity will be based on TOPCon technology, which offers high photoelectric conversion efficiency and effectively enhances the power generation efficiency of solar cells.
Websol Energy System currently operates a 600MW cell production line and a 550MW module production line (Phase 1) in Falta, West Bengal. These existing capacities were financed through internal accruals, preferential issuance of ordinary shares, and loans from financial institutions. The current cell production line has an effective utilization rate of 90%. According to the plan, an additional 600MW cell line (Phase 2), scheduled to commence operations in October 2025, will also be located in Falta. This production line is entirely financed through internal accruals. Once operational, Websol’s total solar cell manufacturing capacity will increase to 1.2GW.
The company has also planned two major expansion phases: by June 2027 (Phase 3), adding a 2GW cell production line and a 2GW module production line; and by June 2028 (Phase 4), adding another 2GW cell production line and a 2GW module production line. The total investment for Phase 3 and Phase 4 will be funded through a combination of internal accruals and loans from financial institutions.
