Nikhil Kamath Invests ₹137.5 Crore in Renewable Energy Pioneer Goldi Solar

In a major boost to India’s clean energy ambitions, Zerodha co-founder and noted investor Nikhil Kamath has committed ₹137.5 crore to renewable energy startup Goldi Solar, one of the fastest-growing solar PV module manufacturers in the country. The investment marks a powerful alignment between India’s rapidly growing solar demand and the government’s mission to achieve 280 GW of solar capacity by 2030.

Goldi Solar’s meteoric growth in renewable energy

Founded in 2011 by Ishverbhai Dholakia, Goldi Solar has become one of India’s most dynamic players in the renewable energy space. Over the past 12 months, the company nearly tripled its solar PV module manufacturing capacity from 3 GW to 14.7 GW, positioning itself as a leading force not just in India but also in the global solar supply chain.

The company has also announced expansions in solar cell manufacturing at its Surat facility in Gujarat, which will cater to both domestic and export markets. This expansion comes at a time when India is actively reducing its dependence on imported solar modules by encouraging local manufacturing through the Production Linked Incentive (PLI) scheme and implementing import duties on foreign products.

Kamath’s vision for renewable energy in India

Speaking about his decision to invest in Goldi Solar, Kamath emphasized the transformative potential of renewable energy in India:

“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.”

His investment underscores the growing confidence among entrepreneurs and investors in India’s clean energy market, which is projected to be one of the fastest-growing renewable energy ecosystems in the world.

Why renewable energy is the future

India’s renewable energy landscape has been gaining momentum due to a combination of factors:

• Government Targets: 280 GW of solar power capacity by 2030.
  
• Policy Support: Import duties on foreign modules and incentives under PLI.
  
• Rising Demand: Domestic electricity needs are surging, with industries and households actively shifting toward clean energy.
  
• Global Push: Nations worldwide are accelerating their climate commitments, creating export opportunities for Indian manufacturers.
  

Goldi Solar’s recent scale-up and Kamath’s capital infusion represent a convergence of these drivers, positioning the company as a key contributor to India’s green energy transition.

A diversified investor betting on sustainability

Nikhil Kamath has become a household name in India not only for co-founding Zerodha, India’s largest retail brokerage, but also for his wide-ranging investment portfolio. His ventures span multiple industries—from consumer brands like PeeSafe, NourishYou, and Coffee Roasters, to tech-enabled platforms and even luxury spirits through partnerships such as D’YAVOL Spirits with Bollywood actor Shah Rukh Khan.

However, his latest move with Goldi Solar reflects a deeper strategic vision—backing sustainability-focused businesses that can scale globally while aligning with India’s climate and energy priorities.

Goldi Solar’s global ambitions

Goldi Solar is not just focused on serving India’s renewable energy needs. With its expanded 14.7 GW module capacity and upcoming cell manufacturing plant, the company aims to capture international market share by exporting Indian-made solar solutions. This expansion could position India as a hub for renewable energy manufacturing, rivalling established global players.

Founder Dhruv Dholakiya, who now leads Goldi Solar, has consistently emphasized innovation, quality, and sustainability as the company’s guiding principles. With Kamath’s financial backing, the firm is expected to accelerate its R&D efforts, strengthen supply chains, and expand into new markets.

Why this matters for India’s energy transition

India’s reliance on fossil fuels remains a challenge, with coal still accounting for a significant share of power generation. However, investments like these highlight a clear shift in direction. By strengthening domestic renewable manufacturing, India can:

• Reduce carbon emissions.
  
• Generate green jobs in manufacturing and installation.
  
• Enhance energy security by lowering imports.
  
• Make renewable energy more affordable and accessible.
  

As CM Yogi Adityanath noted at a recent green hydrogen inauguration, “Green energy may seem costly today, but just like mobile phones, it will soon become affordable for every household.” Kamath’s latest investment echoes this vision, signaling that clean energy is no longer an aspiration but an inevitable reality.

The road ahead

With capital backing from visionary investors and supportive government policies, Goldi Solar’s journey represents the broader narrative of India’s renewable energy future. The next five years are expected to be crucial, as India ramps up solar, hydrogen, and wind projects to meet its climate commitments.

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