Fujiyama Power Approves 1.2 GW TopCon Solar Cell Plant in Madhya Pradesh

Fujiyama Power Systems Limited has announced a Rs. 350 crore investment to establish a 1.2 GW TopCon solar cell manufacturing facility at Ratlam, Madhya Pradesh. The new facility will complement the company's existing 1 GW Mono PERC plant at Dadri, Uttar Pradesh.

Fujiyama Power Systems Limited (BSE: 544613, NSE: UTLSOLAR), one of India's leading rooftop solar solution providers, has received board approval for the commissioning of a 1.2 GW TopCon solar cell manufacturing facility at its Ratlam plant in Madhya Pradesh. The investment is pegged at Rs. 350 crore and signals a significant technology upgrade, as Tunnel Oxide Passivated Contact (TopCon) cells deliver higher efficiency than the older Mono PERC technology. The company already operates a 1 GW Mono PERC facility at Dadri, Uttar Pradesh.

With the addition of the Ratlam capacity, Fujiyama's total solar cell manufacturing footprint will rise to 2.2 GW, positioning it among the larger domestic cell manufacturers in India. The move aligns with the government's push for domestic solar manufacturing under the Production Linked Incentive (PLI) scheme and positions Fujiyama to capture a greater share of the growing on-grid rooftop solar market. TopCon technology is increasingly becoming the industry standard for high-efficiency modules.

This capacity expansion carries strong ESG significance. Manufacturing advanced solar cells domestically reduces India's dependence on Chinese imports and strengthens supply chain resilience for the country's clean energy transition. Fujiyama's investment in higher-efficiency TopCon technology will also result in more energy-dense installations, reducing land usage per unit of energy generated. For investors, the Rs. 350 crore commitment signals long-term confidence in India's solar demand trajectory and the company's manufacturing-led growth strategy.

Key figure — 1.2 GW (TopCon solar cell capacity at Ratlam; Rs. 350 crore investment)