The plant has an annual nameplate capacity of 2.2GW and was completed within 15 months of its announcement, according to Alpex. MNRE has formally acknowledged the company’s ALMM List-II application, which is currently under evaluation under the ministry’s prescribed guidelines.
ALMM is an MNRE mechanism that specifies which solar PV manufacturers and products are eligible for use in designated solar projects in India. ALMM List-II specifically lists approved solar PV cell manufacturers and models, making it mandatory for covered projects to source their solar cells from this list to promote domestic manufacturing and ensure quality.
ALMM List-II came into force on 1 June 2026, following the MNRE’s December 2024 amendment to the ALMM Order, 2019.
The investment marks Alpex’s entry into upstream manufacturing through backward integration. Following its IPO, the company expanded from solar module manufacturing into solar cell production as part of its vertical integration strategy.
The company added that it is also planning an ingot and wafer manufacturing facility with an annual production capacity of 5GW, with both production lines expected to be operational by 2030.
Separately, Alpex reported FY26 operating revenue of INR22.23 billion (US$230 million), EBITDA of INR3.27 billion and profit after tax (PAT) of INR2.02 billion, which the company said was its highest annual PAT since inception.
Alpex Solar, incorporated in 1993 and headquartered in Greater Noida, entered solar panel manufacturing in 2007.
The company currently operates 1.2GW of annual solar PV module manufacturing capacity, which is being expanded to 3.6 GW through ongoing expansion across its Greater Noida facilities. Its combined manufacturing footprint spans approximately 212,000 square feet across Unit I (Surajpur Industrial Area) and Unit V (Ecotech, Greater Noida).
https://www.pv-tech.org/alpex-solar-seeks-almm-inclusion-as-2-2gw-cell-plant-nears-production/
