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Cosmic PV Power Wins INR 600 Crore Solar Module Supply Deal from Zetwerk, Marks Entry into Utility-Scale IPP Market

Cosmic PV Power has secured a solar module supply order valued at approximately INR 600 crore from Zetwerk Manufacturing Businesses, marking the company’s formal entry into the utility-scale Independent Power Producer (IPP) segment.

The contract covers the supply of 6,88,947 solar modules, each rated at 550 Wp. Until now, Cosmic PV Power primarily served mid-sized EPC companies and select OEMs, but this major order signals a strategic expansion into larger utility-scale opportunities.

Speaking to Energetica India, the company’s leadership shared that Cosmic PV has already begun attracting significant interest from multiple large IPPs, driven by the visibility and industry connections established through this deal. Management expects several additional large orders to be finalized over the coming months, setting the stage for a strong growth phase over the next one to two years.

Jenish Ghael, Chairman of Cosmic PV Power, expressed satisfaction with the achievement, crediting the team’s consistent efforts and deep customer engagement. “Dispatches for the Zetwerk order are already underway, and the focus is on seamless and timely execution,” he said.

Shravan Gupta, Managing Director, added that the order underscores the company’s ability to deliver on large-scale commitments and highlights its readiness to compete in the utility and IPP markets. With a robust manufacturing capacity and a growing project pipeline, Cosmic PV is positioning itself as a key player to watch in the upcoming financial years.

The final transaction value will be adjusted for GST, as the purchase order was issued in June 2025. GST on renewable energy equipment was reduced from 12% to 5%, effective September 22, 2025.

In just two years, Cosmic PV Power has rapidly evolved from a 200 MW solar module manufacturer to a 3 GW integrated solar module gigafactory. Of this, 1.3 GW is already listed in the Approved List of Models and Manufacturers (ALMM), while the rest is undergoing the listing process.

The company recently acquired 60 acres in Narmadapuram, Madhya Pradesh, allotted by the state government, to establish a 4 GW solar cell manufacturing facility. Additionally, Cosmic PV has signed an MoU with Indygreen Technologies to set up a 2 GW lithium-ion battery line for Battery Energy Storage Systems (BESS). Supply and commissioning of this production line are slated for completion by March 2026, marking the company’s official entry into India’s growing energy storage market.

With the upcoming solar cell line and the new BESS manufacturing facility, Cosmic PV Power is positioning itself as a vertically integrated clean-energy company spanning the full solar and storage value chain. Through these expansions, the company aims to strengthen India’s renewable manufacturing ecosystem and support the nation’s broader push toward energy independence and net-zero emissions.