Nikhil Kamath invests ₹137 crore in THIS company, bets on clean energy
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.
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.
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.
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.
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STORY CONTINUES BELOW THIS AD Notably, India's test-firing of the Agni-V comes just around three-and-a-half months after Operation Sindoor and follows the previous test of Agni-5 in March last year. About the Agni-V The Agni-V is the fifth variant of India's long-range surface-to-surface ballistic missile. India has a long history with the Agni series of missiles, dating back to 1989. At the time, India had test-fired Agni-I, an Intermediate Range Ballistic Missile, with a range of around 1,000 km. Subsequently, India has been developing the Agni missile and the fifth variant was first tested in 2012, with subsequent tests conducted in the following years. The last test was conducted in March 2024 when the Defence Research and Development Organisation (DRDO) was testing the missile after it was equipped with Multiple Independently Targetable Re-entry Vehicle (MIRV) technology, allowing it to strike multiple targets with a single launch. The Agni-V missile has a maximum payload of around 1,360 kilogrammes and a range of 5,000 km — this puts Pakistan, Turkey and even China within the missile's target range. However, some experts note that India's is downplaying the missile's range, stating that it actually has the capability of striking 8,000 km away. The Agni - V missile being successfully launched from the Wheeler Island in Balasore, Odisha. PTI What makes the Agni-V missile even more intimidating is that it launches from a sealed canister that reduces the time needed for launching. An Indian Express report explains that the canisterisation also gives the missile a longer shelf life, protecting it from the harsher climatic conditions. The Agni-V also has the potential to be launched via a submarine. Furthermore, its top speed stands at around Mach 24. 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