First Solar Invests $150 Million More in India, Bringing Cumulative Commitments Near $1 Billion

US-based solar module manufacturer First Solar is expanding its footprint in India with an additional investment of $150 million. The new capital adds to the $700 million the company has already deployed in the country, bringing its cumulative investments closer to the $1-billion mark.

First Solar Chief Executive Officer Mark Widmar announced the investment at the Bharat Renewable Energy Summit (BRE Summit 2026) in New Delhi. During his address, Widmar highlighted that long-term capital commitment depends heavily on regulatory predictability. He stressed that the government must maintain the fidelity of its policy announcements, particularly regarding the Approved List of Models and Manufacturers (ALMM) for solar modules and cells.

"The fidelity of those commitments and announcements has to stay true because if things move, things change, then it will compromise the speed at which investments will be made," Widmar noted, adding that investors require clear certainty before committing large amounts of capital to manufacturing facilities.

Sujoy Ghosh, Country Managing Director of First Solar India, provided further details regarding the capital allocation. He stated that the $150-million investment is already underway and will be directed toward upgrading manufacturing processes to produce advanced thin-film solar modules.

According to Ghosh, the upgraded modules feature a temperature coefficient of minus 0.22 per cent per degree Celsius. This compares with around minus 0.35 per cent for mono-PERC modules and minus 0.4 per cent for TOPCon modules. The temperature coefficient measures power output reduction as module temperatures rise above 25 degrees Celsius, giving the thin-film panels an operational advantage in high-temperature regions such as Rajasthan.

Ghosh also noted the long-term performance metrics of First Solar's technology, stating that the modules retain 98 per cent of their original energy-producing capability after 25 years, compared to roughly 88 per cent for crystalline silicon modules. The manufacturing process utilizes cadmium telluride (CdTe) semiconductor material deposited on glass substrates, making the operations independent of conventional polysilicon, ingots, wafers, and the broader silicon supply chain.

"First Solar's continued capital injection highlights the growing maturity and strategic importance of India's renewable energy manufacturing sector. However, as CEO Mark Widmar rightly pointed out, capital-intensive manufacturing requires long-term regulatory stability. When global firms commit hundreds of millions of dollars to physical infrastructure, predictable policy execution around frameworks like the ALMM is vital to maintain investor confidence and ensure steady industrial growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes