[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-oswal-pumps-to-set-up-12-gw-topcon-solar-cell-facility":3,"$fjnKX72BiLw-CiZZ5MQCs0a0C_bANyAZUVd6PqPzBgJg":26,"$fR4DoeVRVekscO3pYCsJIt6KjRPIynjtNlytHFj6IDMg":162,"$f-j9YGNBwRSSL7SH4JzUpRZrBt_Eb-enBkRymgC2HvJg":168,"$fx0Dz-WUAXgaGJDFKp5JoFihuourpw4oC0uNO6EDK9Y8":209,"$flyRSpjhyVE29pqjd-DzWtoRwNGPXrTq6WJDGSvhczcc":241},{"data":4},{"id":5,"title":6,"slug":7,"excerpt":8,"content":9,"imageUrl":10,"socialImageUrl":11,"publishedAt":12,"author":13,"category":14,"likes":15,"summary":16,"captionLinkedin":17,"captionTwitter":18,"captionInstagram":19,"seo":20,"prevPost":22,"nextPost":17},1616,"Oswal Pumps to Set Up 1.2 GW TOPCon Solar Cell Facility","oswal-pumps-to-set-up-12-gw-topcon-solar-cell-facility","Oswal Pumps subsidiary OSEPL invests INR 456 crore to establish a 1.2 GW TOPCon solar cell facility, boosting domestic manufacturing and supply security.","\u003Cp style=\"text-align: left;\">\u003Cimg style=\"float: left;\" src=\"https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002FD4wGNMZC94kycNWv4A6ulCuDHGzyiUsmkUTcuY6D.png\" alt=\"\" width=\"340\" height=\"191\" data-id=\"posts\u002FOctober2026\u002Fnews\u002FD4wGNMZC94kycNWv4A6ulCuDHGzyiUsmkUTcuY6D.png\" data-mce-src=\"https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002FD4wGNMZC94kycNWv4A6ulCuDHGzyiUsmkUTcuY6D.png\">Oswal Pumps Ltd, one of India’s leading manufacturers of solar pumping systems, solar modules, and electric motors, announced that the Board of Directors of its wholly owned subsidiary, Oswal Solar Energy Pvt Ltd (OSEPL), has approved plans to set up a 1.2 GW solar cell manufacturing facility based on TOPCon (Tunnel Oxide Passivated Contact) technology.\u003C\u002Fp>\n\u003Cp style=\"text-align: left;\">The commercial production is expected to commence by April 2028. The entire output is intended for captive consumption by OSEPL’s in-house solar module lines. It is intended to secure a steady, reliable supply of DCR cells and reduce the company’s exposure to spot-market price volatility and supplier-driven commercial terms. It will also extend OSEPL’s value addition from module assembly into cell manufacturing. Together, these benefits are expected to strengthen the group’s cost structure, competitive positioning in Government-backed programs, and profitability at the consolidated level over time. \u003C\u002Fp>\n\u003Cp>\u003Cstrong>Key Benefits to Oswal Pumps\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>ALMM List-II compliance:\u003C\u002Fstrong> Assured access to ALMM-compliant domestic cells for modules supplied under PMKUSUM, PM Surya Ghar, rooftop, and other Government-linked projects, protecting the company’s order book eligibility\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Security of supply:\u003C\u002Fstrong> Reduced dependence on third-party and imported cells at a time when domestic cell availability is constrained\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Cost competitiveness:\u003C\u002Fstrong> Lower input costs and freight, strengthening the company’s position in price-competitive Government tenders\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Technology leadership:\u003C\u002Fstrong> TOPCon cells deliver higher efficiency and energy yield, enabling higher-wattage, premium modules\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Quality control:\u003C\u002Fstrong> End-to-end control of cell and module quality, improving reliability, and warranty performance of solar pumping systems\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Execution agility:\u003C\u002Fstrong> Faster turnaround on large orders, supported by in-house supply of cells and modules \u003C\u002Fp>\n\u003Cp>The total project cost is estimated at approximately INR 456 crore. Of this, about INR 296 crore is proposed to be funded through debt. The balance of INR 159.85 crore is proposed to be funded from the unutilized IPO proceeds of INR 163.04 crore, which were originally earmarked for the Aluminum Frame Facility, the remaining 300 MW EVA Encapsulant Facility, and the remaining 500 MW Solar Module Facility through infusion in OSEPL. It is proposed to deploy the Net Proceeds towards the aforementioned solar cell manufacturing facility by Financial Year 2028.\u003C\u002Fp>\n\u003Cp>The Board of Directors of the company, in its meeting, inter-alia, approved variation in the objects\u002Fterms of utilization of the IPO proceeds and modification of the time limit for the utilization of the IPO Proceeds, subject to the receipt of requisite statutory\u002Fregulatory approvals, including the approval of the Shareholders of the company.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Strategic Rationale \u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>The company evaluated long-term sourcing arrangements with established domestic cell manufacturers, including multi-year off-take commitments. The commercial terms available, covering both pricing and upfront security deposit requirements, were not aligned with the company’s assessment of long-term value or its approach to prudent working capital management. This puts both availability and cost of the key input outside the company’s control, a strategic exposure for a business anchored to DCR-dependent programs (PM-KUSUM, PM Surya Ghar). A comparative evaluation found that setting up captive cell manufacturing capacity was the more economically viable option.\u003C\u002Fp>\n\u003Cp>Backward-integrating into cell manufacturing directly addresses this: it secures supply, insulates OSEPL from spot price and deposit demands, deepens value addition from module assembly into cell manufacturing, and is expected to improve the margin and profitability at the consolidated level for the company.  \u003C\u002Fp>\n\u003Cp>The change re-directs scarce IPO capital from a low value-add, deferrable component (frames), surplus module capacity, and surplus EVA encapsulant capacity to the highest-leverage point in the chain (cells), where control of supply is now business-critical. At a capacity of 1.2 GW, it will meet approximately 75 percent of the OSEPL’s overall cell requirement, with the balance continuing to be sourced externally in the near term. \u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Versus further module capacity:\u003C\u002Fstrong> the company’s existing and planned module lines (the ~570 MW line plus the 1 GW now being set up) are sufficient for current requirements; adding further module capacity would deepen the company’s exposure to externally-sourced, DCR-constrained cells.\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Versus continuing the Aluminum Frame Facility:\u003C\u002Fstrong> Frames are low-value, standardized components that can be sourced from the market in the near term. With frame technology still evolving, investing in manufacturing capacity now carries a risk of obsolete capex. In contrast, cells are critical to securing supply and protecting margins, making them the most important area for investment in the value chain.\u003C\u002Fp>\n\u003Cp style=\"margin-left: .5in;\">●      \u003Cstrong>Versus building out the balance of the EVA Encapsulant Facility:\u003C\u002Fstrong> the 1.2 GW of EVA capacity being retained is majorly sufficient to service the company’s module-manufacturing capacity with only a small incremental quantum expected to be sourced externally; committing capital to the balance 300 MW would tie up funds in an encapsulant-manufacturing step that is not the binding constraint on the company’s solar-manufacturing economics, unlike cells. \u003C\u002Fp>\n\u003Cp>All three sources involve capital allocated to lower-value activities or areas where capacity is currently sufficient. In contrast, the cell plant addresses the most critical supply-chain gap and strategic priority in OSEPL’s integrated manufacturing operations. Hence, this is expected to create greater value than further investment in module capacity or a conventional aluminum-frame manufacturing line.\u003C\u002Fp>\n\u003Cp>Management remains committed to enhancing long-term shareholder value through the prudent and efficient utilization of the issue proceeds, with a focus on maximizing returns while maintaining the quality of the company’s products and services.  \u003C\u002Fp>\n\u003Cp>Commenting on the order, Vivek Gupta, Chairman and Managing Director, Oswal Pumps Ltd, said, “The decision to set up a 1.2 GW TOPCon solar cell facility marks a defining step in Oswal Pumps’ journey from a pump manufacturer to a fully integrated solar solutions company. Over the years, we have built strong capabilities in solar modules, pumps, and complete solar pumping systems. Bringing cell manufacturing in-house completes that value chain and gives us greater control over quality, cost, and timelines.”\u003C\u002Fp>\n\u003Cp>Gupta added, “With ALMM List-II now in force, demand for domestically manufactured cells is set to rise sharply. We see this as the right opportunity to invest. Choosing TOPCon technology ensures we are building for the future, with higher efficiency and better long-term performance for our customers. India’s renewable energy ambitions, together with programs such as PM-KUSUM and PM Surya Ghar, give us strong visibility of demand. We are confident this investment will strengthen our competitive position and create long-term value for all our stakeholders.”\u003C\u002Fp>\n\u003Cp>For more information: \u003Cstrong>www.oswalpumps.com\u003C\u002Fstrong>\u003C\u002Fp>","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Foswal-pumps-to-set-up-12-gw-topcon-solar-cell-facility-OxLaI4.png","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fsocial\u002Fhorizontal\u002Fposts\u002FOctober2026\u002Fnews\u002Foswal-pumps-to-set-up-12-gw-topcon-solar-cell-facility-OxLaI4.png","2026-10-15T00:08:40+05:30","MWM Desk","News",0,"Oswal Solar Energy plans to build a 1.2 GW TOPCon solar cell manufacturing facility by April 2028.\nThe total project cost is estimated at INR 456 crore, partially funded through repurposed IPO proceeds.\nBackward integration ensures ALMM compliance and secures domestic supply for government-backed programs.",null,"Oswal Pumps invests INR 456 crore in a new 1.2 GW TOPCon solar cell facility to boost domestic manufacturing and supply chain security. #SolarEnergy #CleanTech","Big news in the renewable energy sector! ☀️ Oswal Pumps' subsidiary, Oswal Solar Energy, is investing INR 456 crore to set up a massive 1.2 GW TOPCon solar cell manufacturing facility, expected to begin commercial production by April 2028. \n\nBy backward-integrating from module assembly into cell manufacturing, the company aims to ensure strict ALMM compliance, protect its supply chain from spot-market volatility, and strengthen its competitive edge in key government-backed initiatives like PM-KUSUM and PM Surya Ghar. 🔋🏭\n\nWhat are your thoughts on the growth of domestic solar manufacturing in India? Let us know in the comments below! 👇\n\n#SolarManufacturing #CleanEnergy #RenewableEnergy #SolarTech #SustainableBusiness #EnergyTransition #TradeIndustry",{"title":6,"description":8,"keywords":21},"oswal pumps,topcon solar cell,solar manufacturing,renewable energy,almm compliance,pm kusum,solar modules,india energy",{"title":23,"slug":24,"imageUrl":25},"Cummins India Names Gbile Adewunmi MD and India Regional Leader","cummins-india-names-gbile-adewunmi-md-and-india-regional-leader","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Fcummins-india-names-gbile-adewunmi-md-and-india-regional-leader-qOh73f.jpg",{"data":27,"links":100,"meta":104},[28,34,40,46,52,58,64,70,76,82,88,94],{"title":29,"slug":30,"excerpt":31,"imageUrl":32,"publishedAt":33,"author":13,"category":14},"Advait Group Names Darshan Soni CEO for Hydrogen, Solar & Fuel Cell Operations","advait-group-names-darshan-soni-ceo-for-hydrogen-solar-fuel-cell-operations","Advait Greenergy appoints industry veteran Darshan Soni as CEO to spearhead its green hydrogen, solar, and fuel cell operations and growth.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Fadvait-group-names-darshan-soni-ceo-for-hydrogen-solar-fuel-cell-operations-DSqPLi.jpeg","2026-11-08T19:47:27+05:30",{"title":35,"slug":36,"excerpt":37,"imageUrl":38,"publishedAt":39,"author":13,"category":14},"Zetwerk Expands US Energy Business with Power Transformer Deployment","zetwerk-expands-us-energy-business-with-power-transformer-deployment","Zetwerk and its subsidiary Unimacts are transforming the US energy grid by slashing transformer delivery lead times to 12-15 months.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Fzetwerk-expands-us-energy-business-with-power-transformer-deployment-o5jq2w.jpeg","2026-11-08T19:39:01+05:30",{"title":41,"slug":42,"excerpt":43,"imageUrl":44,"publishedAt":45,"author":13,"category":14},"ABB Enables Digital Transformation at TCI MAX’s Srinagar Facility","abb-enables-digital-transformation-at-tci-maxs-srinagar-facility","Discover how TCI MAX Cement boosts productivity and sustainability in Kashmir by deploying ABB’s advanced process control tech.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Fabb-enables-digital-transformation-at-tci-maxs-srinagar-facility-1ar0xi.png","2026-11-08T11:55:08+05:30",{"title":47,"slug":48,"excerpt":49,"imageUrl":50,"publishedAt":51,"author":13,"category":14},"Fluke Advances from Class-II to Class-I Local Supplier in India","fluke-advances-from-class-ii-to-class-i-local-supplier-in-india","Discover how Fluke Corporation advanced to Class-I Local Supplier status in India, boosting domestic manufacturing and supporting Make in India.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Ffluke-advances-from-class-ii-to-class-i-local-supplier-in-india-QoiRKH.jpeg","2026-11-02T19:17:39+05:30",{"title":53,"slug":54,"excerpt":55,"imageUrl":56,"publishedAt":57,"author":13,"category":14},"Copeland Continues Investment to Expand India Operations","copeland-continues-investment-to-expand-india-operations","Copeland boosts its India manufacturing capacity with a INR 500Cr investment in Atit and Pune, driving innovation in HVACR technologies.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Fcopeland-invests-inr-500cr-to-expand-india-operations-IWxBl9.jpg","2026-11-02T18:08:15+05:30",{"title":59,"slug":60,"excerpt":61,"imageUrl":62,"publishedAt":63,"author":13,"category":14},"Vedanta Invests US$ 600M to Expand South Africa Zinc Operations","vedanta-invests-us-600m-to-expand-south-africa-zinc-operations","Vedanta Ltd doubles its South African zinc capacity with a $600M investment at Gamsberg. Boosting global supply and local growth.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FNovember2026\u002Fnews\u002Fvedanta-invests-us-600m-to-expand-south-africa-zinc-operations-bIPFpE.jpg","2026-10-22T23:47:47+05:30",{"title":65,"slug":66,"excerpt":67,"imageUrl":68,"publishedAt":69,"author":13,"category":14},"NuSynth Technologies Raises INR 36.5Cr in Seed Funding for Chemistry Innovation","nusynth-technologies-raises-inr-365cr-in-seed-funding-for-chemistry-innovation","NuSynth Technologies secures INR 36.5Cr in Seed funding to revolutionize complex chemical synthesis through AI-driven R&D and first-principles innovation.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Fnusynth-technologies-raises-inr-365cr-in-seed-funding-for-chemistry-innovation-RMPfGT.jpeg","2026-10-22T23:38:07+05:30",{"title":71,"slug":72,"excerpt":73,"imageUrl":74,"publishedAt":75,"author":13,"category":14},"Jungheinrich, Automha Advance Gradual Warehouse Automation","jungheinrich-automha-advance-gradual-warehouse-automation","Jungheinrich and Automha partner to launch the UP-Carrier GTJ, a two-way shuttle enabling gradual, cost-effective warehouse automation.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Fjungheinrich-automha-advance-gradual-warehouse-automation-towmGW.jpg","2026-10-22T23:00:06+05:30",{"title":77,"slug":78,"excerpt":79,"imageUrl":80,"publishedAt":81,"author":13,"category":14},"GEON Commissions 10 MW\u002F20 MWh BESS Project in Rajasthan","geon-commissions-10-mw20-mwh-bess-project-in-rajasthan","GEON has commissioned a 10 MW\u002F20 MWh BESS project in Rajasthan, advancing grid stability and India's transition to renewable energy.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Fgeon-commissions-10-mw20-mwh-bess-project-in-rajasthan-ujwmiO.jpeg","2026-10-22T22:15:19+05:30",{"title":83,"slug":84,"excerpt":85,"imageUrl":86,"publishedAt":87,"author":13,"category":14},"India’s Electric Passenger Car Market to Reach 1.9 Lakh Units in 2026","indias-electric-passenger-car-market-to-reach-19-lakh-units-in-2026","Discover why India's electric passenger car market is projected to hit 1.9 lakh units by 2026. Experts weigh in on the EV revolution.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Findias-electric-passenger-car-market-to-reach-19-lakh-units-in-2026-3Ik7OT.jpeg","2026-10-22T22:03:30+05:30",{"title":89,"slug":90,"excerpt":91,"imageUrl":92,"publishedAt":93,"author":13,"category":14},"Augury Opens Bengaluru Hub to Build Industrial AI Capabilities","augury-opens-bengaluru-hub-to-build-industrial-ai-capabilities","Industrial AI leader Augury is scaling global operations with a new engineering hub in Bengaluru to advance its agentic manufacturing AI.","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2026\u002Fnews\u002Faugury-opens-bengaluru-hub-to-build-industrial-ai-capabilities-GIeDsP.png","2026-10-22T21:47:10+05:30",{"title":95,"slug":96,"excerpt":97,"imageUrl":98,"publishedAt":99,"author":13,"category":14},"Jindal Steel Wins CII Award for Low-Carbon Steelmaking 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