2.4GW photovoltaic cell factory to be landed!

local time, Solarworld Energy, an Indian renewable energy company, disclosed that it would establish Rays Green, a 50% joint venture with Rays Power, an Indian integrated solar energy company.

The joint venture will build a solar photovoltaic cell manufacturing plant with an annual capacity of 2.4G W in Mohasa, Nalmadapuram District, Madhya Pradesh, India. The plant adopts TOPCon battery technology, covering an area of about 250.7 mu, with a total investment of 10 billion rupees (about 704 million yuan, 1 yuan ≈ 14.20 rupees).

Previously, on September 25, 2025, Solarworld Energy issued a prospectus, which originally planned to invest in its subsidiary Kartik Solarworld and invest part of the amount raised in the construction of a 1.2G W solar TOPCon battery factory in Pandurana, Madhya Pradesh. The 1.2G W battery project is estimated to invest Rs. 57.53 billion, of which Rs. 4.2 billion will be used to raise funds. In

this announcement, Solarworld Energy clearly intends to reinvest the funds originally planned for the 1.2GW battery project into the 2.4G W TOPCon battery project.