|
PRNewswire
Surat (Gujarat) [India], November 26: Solar panel manufacturer Cosmic PV Power Ltd has announced that the company has secured orders worth about INR 600 crore from Zetwerk Manufacturing Businesses for the supply of solar modules. The company has made a formal entry into the Independent Power Producer (IPP) market. Until now, Cosmic PV largely catered to mid-sized EPC players and select OEMs, but this order signals a strategic shift into larger utility-scale opportunities. The company's leadership confirmed that Cosmic PV has begun receiving strong inquiries from multiple large IPPs -- a direct outcome of this order and the industry networks it has activated. The management expects several more major orders to close in the coming months, positioning the company for an accelerated growth phase over the next 1-2 years. Jenish Ghael, Chairman of Cosmic PV Power, expressed his satisfaction with the development, crediting the team's consistent efforts and strong customer engagement for securing the mandate. He added that dispatches for the Zetwerk order have already commenced, and the company is committed to ensuring smooth and timely execution. Shravan Gupta, Managing Director, Cosmic PV Power, added, "The order showcases Cosmic PV Power's capability to handle large-scale supply commitments and reflects the company's readiness to compete in the utility and IPP segments. With capacity in place and a growing project pipeline, Cosmic PV is an emerging player to watch closely in the coming financial years." However, it is pertinent to note that the transaction value will be subject to GST adjustment since the purchase order (PO) was received in June 2025. GST for renewable energy equipment has been slashed to 5 percent from 12 percent, effective September 22, 2025. In just two years, Cosmic PV Power has emerged as one of India's fastest-growing renewable energy manufacturers -- evolving from a 200 MW module producer to a 3 GW integrated solar module gigafactory. Out of this, 1.3 GW is already listed in the Approved List of Models and Manufacturers (ALMM), and the balance is in the process of getting listed, the company stated. Cosmic PV Power Ltd recently secured 60 acres of land in Narmadapuram, Madhya Pradesh, allocated by the MP government, for setting up its upcoming 4 GW solar cell manufacturing line. The company also signed a Memorandum of Understanding (MoU) with Indygreen Technologies to establish a 2 GW lithium-ion battery production line for Battery Energy Storage Systems (BESS). The supply and commissioning of the new production line are scheduled for completion by March 2026, marking the company's formal entry into India's rapidly growing energy storage sector, the company stated. With the upcoming cell line and the newly announced BESS facility, the company is now positioning itself as a vertically integrated clean energy company, spanning the entire solar and energy storage value chain. Through these rapid expansions, Cosmic PV Power is not only strengthening India's renewable manufacturing ecosystem but also aligning with the nation's broader mission of achieving energy independence and net-zero emissions, the company stated. Website: https://www.cosmicpvpower.com/ Photo: https://mma.prnewswire.com/media/2831879/Zetwerk_Cosmic_PV_Power.jpg Logo: https://mma.prnewswire.com/media/2764658/5491810/Cosmic_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
|
