Billionaire Nikhil Kamath invests Rs 137.5 crore in Gujarat-based Goldi Solar

Nikhil Kamath, co-founder of stock brokerage giant Zerodha and one of India’s youngest self-made billionaires, has invested Rs 137.5 crore in Goldi Solar, a solar photovoltaic (PV) module manufacturer in India.

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The investment is expected to accelerate Goldi Solar’s production expansion and bolster its ambitions to become a global renewable energy player. Over the past year, the company has nearly tripled its solar PV module manufacturing capacity, rising from 3 gigawatts (GW) to 14.7 GW. It is also developing large-scale solar cell manufacturing facilities in Surat, Gujarat, as part of its next phase of growth.

"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. It is imperative that we back these companies to accelerate the country’s clean energy transition,” said Kamath.

The investment comes against a backdrop of surging domestic solar demand, driven by India’s target of installing 280 GW of solar power by 2030. Government measures, including import duties on foreign modules and incentives under the Production Linked Incentive scheme, have further encouraged local manufacturing.

Founded in 2011 by Ishverbhai Dholakia, Goldi Solar claims to be a leading producer of high-efficiency modules. With state-of-the-art facilities in Surat, the company has scaled rapidly in recent years. It now plans to extend into solar cell production to serve both domestic and export markets, aligning its mission with India’s broader decarbonization goals and its pledge to achieve net-zero emissions by 2070.