By Abhay Ray 
What does Goldi Solar do?
Ishverbhai Dholakia founded Goldi Solar in 2011 and the according to the company, it is India’s largest Solar PV module manufacturing company. Based in Gujarat’s Surat, the manufacturing firm has existed in the industry for 14 years and has since grown its state-of-the-art production facilities in the city. In the past one year, Goldi Solar has expanded, almost tripled, its module manufacturing capacity from 3 GW to 14.7 GW. The company is also focusing on increasing the production capacity of solar cells, which are a crucial component of solar panels, in Surat, Gujarat, a statement by the company said.
The company is continuously working to develop high-efficiency solar PV modules and cells by integrating them with emerging technologies to fuel India’s growing clean energy needs. “Goldi Solar’s mission aligns with India’s vision of decarbonization and achieving net-zero emissions before 2070, contributing to a stronger and more sustainable future for the nation,” the statement said.
Why has Nikhil Kamath Invested in Solar Power Company?
Nikhil Kamath has invested in solar power because he sees renewable energy as both a profitable long – term bet and a sustainable necessity. His ₹1.37 billion investment in Goldi Solar supports the company’s expansion into solar cell manufacturing, aligning with India’s goal of achieving 500 GW of renewable capacity by 2030. Kamath believes clean energy is central to solving climate change while also creating new jobs, reducing import dependency, and boosting India’s competitiveness in the global supply chain. This move reflects his broader strategy of diversifying investments beyond finance into future-focused industries with strong policy backing and growth potential.
Implications for India’s Green Future
Nikhil Kamath’s investment in Goldi Solar has significant implications for India’s green future. By backing the company’s move into solar cell manufacturing, the funding will help reduce India’s reliance on Chinese imports, strengthen domestic production, and enhance energy security. Goldi’s expansion in Gujarat is also expected to generate thousands of new jobs, boosting local economies while advancing sustainable growth. Kamath’s entry into the sector highlights the growing role of private capital in clean energy, sending a strong signal that renewable investments are both financially viable and socially impactful.
Industry Context & Policy Driver
India is rapidly scaling its renewable energy capacity, targeting 280 GW of solar power by 2030. To reduce dependence on imports and strengthen domestic manufacturing, the government has introduced strong policy measures. These include import duties on foreign solar modules and the Production Linked Incentive (PLI) scheme, which encourages local companies to expand production and adopt advanced technologies. Such initiatives aim to make India a global hub for solar manufacturing, create jobs, and accelerate the clean energy transition. Investments like Nikhil Kamath’s in Goldi Solar align with these policies, helping the nation achieve its green energy goals while boosting self-reliance in the renewable sector.
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