National – This is with reference to recent media reports concerning China’s proposed restrictions on the export of technologies and machinery used in solar cell manufacturing.
Fujiyama Power Systems Limited (“the Company”) wishes to clarify that the machinery and equipment required for its announced 1.2 GW DCR (Domestic Content Requirement) solar cell manufacturing facility have already been delivered to its plant at Ratlam, Madhya Pradesh. Accordingly, the Company does not anticipate any material impact of the proposed restrictions on the capital expenditure or the timeline of this expansion, and the facility remains on track to be commissioned as originally planned, i.e. in Q1 of FY 2027-28. At this stage, the Company has not announced any plans for additional solar cell manufacturing capacity.
The Company is engaged in the retail-focused rooftop solar business, in which it manufactures and supplies Solar Power Generation Systems (SPGS) comprising solar inverters, solar batteries and solar panels. Solar panel manufacturing is a backward integration of this business, and solar cell manufacturing is a further backward integration for solar panel manufacturing. Accordingly, the Company does not foresee any material impact of the proposed restrictions on this expansion and the facility is expected to be commissioned, as originally envisaged. The Company’s operations are not dependent on any ongoing foreign technology transfer and remain fully unaffected.
