Fujiyama Power Systems expands Ratlam solar manufacturing
Analysis based on 8 articles · First reported May 22, 2026 · Last updated May 22, 2026
The expansion by Fujiyama Power Systems>>> is expected to positively impact its stock price due to increased manufacturing capacity, improved gross margins, and a stronger competitive position in the Indian rooftop solar market. This development also signals growth in India>>>'s renewable energy sector, potentially attracting further investment.
Fujiyama Power Systems>>> has approved a significant expansion of its manufacturing capabilities by establishing a 1.2 GW TopCon solar cell manufacturing facility at its India — Ratlam>>> plant in India — Madhya Pradesh>>>. This project, estimated at ₹350 crore, will be financed through a mix of debt and internal accruals, with commercial operations expected to commence in Q1 FY2028. The expansion is a key part of Fujiyama Power Systems>>>' strategy for backward integration and technology upgradation, aiming to reduce cost volatility, ensure timely availability of DCR-compliant solar cells, and improve gross margins. Pawan Kumar>>>, Chairman and Joint Managing Director, highlighted that this move will strengthen the company's competitive positioning in the on-grid rooftop solar segment and support the increasing demand under the PM Surya Ghar Yojana. The implementation of Approved List of Models and Manufacturers>>> for Solar PV Cells from June 1, 2026, is also expected to accelerate domestic demand for locally manufactured solar cells, further supporting the rationale for this investment.
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