Alpex Solar Secures Rs 1,068.84 Crore Orders in FY25 from Public and Private Sector Clients

Alpex Solar Limited, a manufacturer of solar panels and solar energy equipment, has secured orders worth Rs 1,068.84 crore in the first quarter of the financial year 2024–25. These orders have been received from various central and state government entities, including projects under government schemes, and from private sector companies.

This development marks a significant milestone for the company following its listing on the NSE Emerge platform in February 2024. The orders, which include solar modules, solar pumps, and off-grid solar systems, are expected to be executed over the next 12 to 18 months.

Order Breakdown and Significance

The confirmed orders span multiple states and involve government initiatives focused on renewable energy expansion. Notable clients include entities in Uttar Pradesh, Gujarat, Rajasthan, Haryana, Maharashtra, and Madhya Pradesh. The deals are spread across different segments such as solar photovoltaic (PV) modules and solar water pumps used in agricultural and rural applications.

According to the company’s disclosure on the stock exchange, the contracts have been finalized, and the execution phase will begin shortly. These orders highlight Alpex Solar’s ability to deliver on large-scale contracts and its increasing presence in the clean energy infrastructure segment.

Market Expansion and Operational Capability

Alpex Solar has been ramping up its manufacturing capabilities to meet growing demand. It currently operates a facility in Greater Noida with an annual capacity of 450 megawatts (MW). The company had previously indicated plans to expand its production capacity to 1.2 gigawatts (GW) to serve both domestic and international markets.

These orders are expected to contribute significantly to the company’s revenue in FY25 and boost its visibility among major stakeholders in the solar energy sector. By executing these orders across varied geographies, Alpex also strengthens its supply chain and delivery logistics, enhancing its operational efficiency.

Growth Following IPO and NSE Listing

The company was listed on the NSE Emerge platform in early 2024, raising capital to fuel growth and manufacturing expansion. The IPO received an encouraging response from investors. Since the listing, Alpex Solar has focused on securing long-term contracts with government and private clients, and this Rs 1,068.84 crore order book is its largest since going public.

The orders reinforce investor confidence and align with India’s target of achieving 500 GW of non-fossil fuel capacity by 2030. With strong policy support and subsidy-backed schemes such as PM-KUSUM and Rooftop Solar Programme Phase II, solar companies like Alpex are well-positioned for sustainable growth.

Impact on Solar Energy Sector

India's solar energy sector has witnessed significant growth due to increased emphasis on renewable energy by the government. Companies like Alpex Solar play a crucial role in the decentralised solar deployment required to meet rural and agricultural energy needs.

The scale of these orders and the company's execution timeline will likely contribute to employment generation and skill development, particularly in the manufacturing and installation segments. These developments also help promote domestic production under the 'Make in India' initiative.

Conclusion

Alpex Solar’s acquisition of Rs 1,068.84 crore in confirmed orders across government and private sectors demonstrates its growing role in India's renewable energy transition. As the company expands its capacity and strengthens its project pipeline, it is positioned to be a key player in India's ambitious clean energy goals.

Source: Outlook Business