Fujiyama Power Systems approved a Rs. 350 crore investment to set up a 1.2 GW TopCon solar cell manufacturing facility at Ratlam, Madhya Pradesh.
The facility strengthens backward integration, targets DCR-compliant cell production, and is expected to commence operations in Q1 FY2028.
Expansion aims to reduce cost volatility, improve gross margins, and capitalize on domestic demand under government schemes like PM Surya Ghar.
Project funding will be through a combination of debt and internal accruals to enhance competitive positioning in rooftop solar market.