Fujiyama Power Systems Limited has informed the Exchange regarding a Press Release dated May 22, 2026, titled, "1.2 GW TopCon Solar Cell manufacturing Facility at Ratlam, Madhya Pradesh.
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Fujiyama Power Systems Limited announced the commissioning of a new 1.2 GW TopCon solar cell manufacturing facility at Ratlam, Madhya Pradesh. The project involves an investment of Rs. 350 crore, funded through a combination of debt and internal accruals. Commercial operations are expected to commence from Q1 of FY2028. This new facility forms part of the company's backward integration and technology upgradation strategy, aiming to reduce cost volatility and ensure availability of DCR-compliant solar cells. Currently, Fujiyama operates a 1 GW Mono PERC solar cell facility at Dadri, Uttar Pradesh. The expansion is timed with the implementation of ALMM-II for Solar PV Cells from June 1, 2026, which is expected to boost domestic demand for DCR solar panels.
This Rs. 350 crore investment represents a significant expansion for Fujiyama, nearly doubling its solar cell manufacturing capacity. The backward integration should strengthen cost control and supply chain resilience, potentially improving margins in the competitive rooftop solar market, especially under government schemes like Pradhan Mantri Surya Ghar Muft Bijli Yojna.