Ratlam, Madhya Pradesh | May 15, 2026
Fujiyama Power Systems (UTLSOLAR) has announced the pivotal commissioning of its 2,000 MW solar module manufacturing facility in Ratlam, Madhya Pradesh. This greenfield expansion represents a near-doubling of the company’s production footprint, elevating total solar panel capacity to 3,568 MW. The move aligns with Fujiyama’s broader strategic roadmap to establish an overarching 3.7 GW/3.8 GWh manufacturing ecosystem across panels, inverters, and storage solutions to capture India’s accelerating rooftop solar demand.
Facility Production Capacities and Scope
The Ratlam facility is engineered as a multi-product hub, featuring a planned annual capacity of 2,000 MW for each of its primary manufacturing lines:
- Solar Panels
- Batteries (Lithium-ion)
- Inverters
The solar module line has commenced operations at an annualized starting capacity of approximately 1,000 MW. To maximize output, the facility is currently transitioning through a phased operational ramp-up, beginning with a single-shift configuration before moving to a high-utilization double-shift schedule.
Operational Timelines and Implementation Phases
While module production is underway, Fujiyama is finalizing the calibration of its power electronics and storage lines. The staggered implementation schedule for the Ratlam site is as follows:
- Inverter Manufacturing: Commissioning is slated for Q1 FY27; all requisite machinery has been received on-site.
- Battery Manufacturing: Commissioning is expected by Q2 FY27; procurement orders for the manufacturing equipment have been finalized.
- Full Capacity Utilization: The company anticipates the entire Ratlam complex will reach peak operational scale by Q4 FY27.
Management noted that the implementation of battery and inverter lines was intentionally phased to incorporate the latest lithium-ion technological advancements, ensuring the facility remains competitive as the market pivots away from traditional tubular batteries. Furthermore, the company successfully navigated geopolitical supply chain disruptions that had previously impacted execution timelines.
Strategic Vertical Integration and Market Alignment
The Ratlam commissioning is the cornerstone of Fujiyama’s “greenfield manufacturing expansion project,” aimed at optimizing Opex through deep vertical integration. A critical driver of this strategy is the company’s focus on Domestic Content Requirement (DCR) compliance.
By leveraging its 1 GW DCR cell manufacturing plant in Dadri (commissioned in January 2026), Fujiyama is successfully implementing a backward integration strategy. This move into in-house cell production—accounting for approximately 50% of total module costs—is projected to lift gross margins for DCR panels to approximately 51%.
This vertically integrated model is specifically designed to capitalize on the PM Surya Ghar Muft Bijli Yojana, the government’s flagship residential solar scheme. Because eligibility for the scheme’s subsidies requires DCR-compliant materials, Fujiyama’s internal supply chain positions it as a primary beneficiary of the 10 million household installation target.
Official Statement
Pawan Kumar Garg, Chairman and Joint Managing Director of Fujiyama Power Systems Limited, stated:
“The commissioning of our solar panel manufacturing facility at Ratlam marks an important milestone in Fujiyama’s growth journey and manufacturing expansion strategy. This greenfield project strengthens our ability to serve the rapidly growing domestic rooftop solar market with higher manufacturing scale, improved operational efficiencies, and greater control across the value chain.”
Company Profile Summary
Fujiyama Power Systems (operating under the UTLSOLAR brand) is a leading B2C rooftop solar solutions provider. The company maintains an extensive manufacturing footprint across Himachal Pradesh, Uttar Pradesh, and Haryana. Its integrated product portfolio includes:
- Power Electronics: Online UPS, battery chargers, and off-grid, hybrid, and on-grid solar inverters.
- Solar Components: Solar panels (Mono-PERC/TOPCon) and solar management units (SMU).
- Storage Solutions: Lithium-ion (Li-ion) and tubular batteries tailored for domestic and commercial applications.
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