Module Manufacturer Alpex Solar has received an order for the supply of solar modules, valued at ₹2.15 billion (~$25.9 million) from an Indian industrial entity.

The module supply must be completed in six months.

Alpex Solar is currently executing a large-scale expansion program, which is expected to be fully operational in the financial year (FY) 2026–27.

As part of this plan, the company will commission 2.4 GW of solar module manufacturing capacity during the current fiscal year, with overall module capacity targeted at 3.6 GW.

In addition, Alpex has upgraded its proposed solar cell manufacturing project from Mono PERC technology to advanced TOPCon technology, with a total targeted capacity of 2.2 GW.

Trial production for Phase I of the TOPCon solar cell facility, with a capacity of 1.4 GW, is scheduled to commence in the first quarter of FY 2025–26, while Phase II, comprising an additional 800 MW, is expected to go into production within six months thereafter.

Once completed, the company will operate 2.2 GW of TOPCon solar cell capacity and 12,000 metric tons per annum of aluminum frame manufacturing capacity, in addition to modules, all of which are planned to be operational in FY 2026–27.

Alongside manufacturing, Alpex Solar has diversified operations across the solar value chain, with targeted capacities of 150 MW in engineering, procurement, and construction services and 100 MW in independent power production. The company has also installed over 21,000 solar water pumps across various regions in India, reflecting its execution capabilities in decentralized solar applications.

Last December,  Alpex Solar’s board of directors approved raising ₹1.25 billion (~$13.8 million) through the issuance of secured, redeemable, unlisted, unrated, and non-convertible debentures.

In November 2025, Alpex Solar announced that it would invest ₹31.36 billion (~$353.77 million) to upgrade its 2.2 GW cell manufacturing facility from Mono PERC to TOPCon in Kosi Kotwan, Uttar Pradesh.