Zerodha’s Nikhil Kamath invests Rs 137,50,00,000 in this Gujarat firm, to boost India’s…; its business is…

Zerodha co-founder Nikhil Kamath has made an investment of Rs 137.5 crore in Goldi Solar.

Zerodha co-founder Nikhil Kamath has taken a big step in boosting India’s renewable energy sector by investing Rs 137.5 crore in Goldi Solar, a solar PV module manufacturing company. The investment will help increase Goldi Solar’s production and further establish the energy company as a major player in renewable energy manufacturing. Nikhil Kamath, one of the country’s youngest self-made billionaires, has made the investment along with his brother Nithin Kamath, and both the brothers hold expansive plans for the renewable energy sector and they see greater opportunities in its domestic market.

“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,” said Nithin Kamath, who is also an investor.

What does Goldi Solar do?

Ishverbhai Dholakia founded Goldi Solar in 2011 and the according to the company, it is India’s largest Solar PV module manufacturing company. Based in Gujarat’s Surat, the manufacturing firm has existed in the industry for 14 years and has since grown its state-of-the-art production facilities in the city. In the past one year, Goldi Solar has expanded, almost tripled, its module manufacturing capacity from 3 GW to 14.7 GW. The company is also focusing on increasing the production capacity of solar cells, which are a crucial component of solar panels, in Surat, Gujarat, a statement by the company said.

The company is continuously working to develop high-efficiency solar PV modules and cells by integrating them with emerging technologies to fuel India’s growing clean energy needs. “Goldi Solar’s mission aligns with India’s vision of decarbonization and achieving net-zero emissions before 2070, contributing to a stronger and more sustainable future for the nation,” the statement said.

Why has Nikhil Kamath invested in solar power company?

As the domestic market is seeing rapid growth, the Nikhil Kamath’s investment aims to boost this growth along with the government targets of 280 GW of solar power by 2030, import duties on foreign modules, and incentives for local manufacturers under the Production Linked Incentive scheme. 

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