- Projects a revenue increase to INR 900 crore by next financial year
- Aims production of 18,000 metric tons of aluminium annually
Delhi, Oct 3, 2024: GenX PV India, a pioneer in split junction box manufacturing with integrated diodes, has announced plans to establish a fully integrated aluminium frame manufacturing facility in Raipur by early next year. The facility will produce 18,000 metric tons of aluminium annually, catering to Indian solar panel manufacturers and reducing reliance on imports from China. This facility will provide end-to-end solutions, including extrusion, anodising, and cutting, enhancing GenX PV’s ability to manufacture aluminium frames in-house.
The announcement came on the side-lines of its participation at the Renewable Energy India Expo 2024 (Oct 3-5, India Expo Center, Greater Noida, Hall 12, Booth No. R883). The Raipur facility, along with backward integration of the junction box, will help GENX PV solidify its position as a comprehensive provider of solar panel materials. The company aims to increase its Bangalore manufacturing capacity of junction boxes from 20 GW to 50 GW by FY25.
Additionally, GenX PV projects an impressive revenue jump from INR 200 crores in FY24 to INR 900 crores by FY25. The company remains committed to R&D, producing advanced, compact, and efficient solar solutions, ensuring top-notch quality through rigorous testing and innovative technology integration. The inclusion of bigger diodes, stringent quality checks, and adherence to V0 flammability standards further sets GenX PV apart in the solar industry.
Piyush Agarwal, Founder and Managing Director, GenX PV said, “With our fully integrated aluminium frame facility and backward integration into junction box manufacturing, GENX PV is not just expanding its capacity but redefining the end-to-end ecosystem for solar panels. Our innovative product portfolio, which includes advanced diodes and precision-engineered components, ensures we are meeting the demands of tomorrow’s solar energy landscape. By controlling every aspect from raw materials to finished products, we are delivering unmatched quality and efficiency to our customers.”
