Nikhil Kamath invests ₹137 crore in THIS company, bets on clean energy
Nikhil Kamath, co-founder of Zerodha, invested ₹137 crore in Goldi Solar. The funds will aid expansion as Goldi Solar expands capacity and develops its solar cell manufacturing in Surat.
Nikhil Kamath, online trading platform Zerodha's co-founder and a prolific investor, has this time bet on India's solar manufacturing space with a ₹137 crore investment in photovoltaic (PV) module company Goldi Solar for an unspecified stake, according to a PTI report.
In an official statement on the infusion, Gujarat-based Goldi Solar said that it will use the funding for expansion activities, the report added.
On his part, Nikhil Kamath in a statement said that this investment comes as he sees “massive opportunity” in India's renewable sector. “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground,” he stated.
About Goldi Solar
In the last year (2024), Goldi Solar has increased its solar PV module manufacturing capacity from 3 gigawatts (GW) to 14.7 GW. The company in its statement said it is also developing its solar cell manufacturing expansions in Surat, Gujarat.
Incorporated in 2011, Goldi Solar added that it “will continue to introduce high-efficiency solar PV modules and cells incorporating emerging technologies to meet the country's growing clean energy needs”, the report added.
Significance of the investment
As per the PTI report, Nikhil Kamath's investment in Goldi Solar comes at the time that competitor Vikram Solar has begun the processes for its ₹2,000 crore initial public offering (IPO). The moves comes amid rapid growth in domestic solar demand.
The Indian government is targeting 280 GW of solar power by 2030, and has also policy interventions on the import duties on foreign modules, and incentives for local manufacturers under the Production Linked Incentive (PLI) scheme. All this has reportedly spurred actions and development in the sector.
Investor Nikhil Kamath
According to a Storyboard18 report, Nikhil Kamath has invested across sectors in startups such as NourishYou, LehLah, InCred Holdings, PeeSafe and Subko Coffee Roasters, among others.
(With inputs from PTI)
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