Announced Mon, 7 Sept, 2026 · 23:09 IST
Solarworld forms 50:50 JV for 2.4 GW solar cell plant in MP
SOLARWORLD · price
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Price reaction · full curve 14 horizons · vs prior close
-1.5%1-day move
₹148.11
prior close
₹152.88
base price
After-mkt
timing
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AI summary
Solarworld board approved a 50:50 joint venture with Rays Power Infra through Rays Green Energy Manufacturing for a 2.4 GW solar PV cell manufacturing plant in Narmadapuram, Madhya Pradesh. Total commitment up to ₹520 crore, comprising ₹100 crore equity subscription and ₹320 crore loan by the company. Company will reallocate ₹4,200 million unutilized IPO proceeds from the earlier 1.2 GW Pandhurana Project to this new 2.4 GW project. Subject to shareholder approval.
Likely market impact
Strategic move into solar cell manufacturing, doubling capacity to 2.4 GW, with significant capital deployment subject to shareholder approval.