Indian PV manufacturer Solex Energy has signed a memorandum of understanding (MoU) with the Government of Gujarat to establish a 5GW solar cell manufacturing facility alongside a 10GW energy storage plant in the state.
Under the agreement, Solex will invest approximately INR40 billion (US$419 million) in the project, as part of its “Vision 2030” strategy. The 5GW solar cell manufacturing facility will be built in phases, comprising an initial 2GW followed by a further 3GW second phase, alongside a 10GW battery energy storage system (BESS) manufacturing plant.
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“This MoU is not merely an investment announcement; it is a commitment towards India’s clean energy future. At Solex Energy, we are envisioning the next phase of growth through scale, innovation, and nation-building. Our integrated solar cell and energy storage manufacturing project will strengthen domestic manufacturing capabilities, reduce import dependence and help build a resilient renewable energy ecosystem for generations to come,” said Chetan Shah, managing director of Solex.
Surat-headquartered Solex Energy operates a 4GW solar module manufacturing facility in Tadkeshwar, Gujarat. Beyond manufacturing, the company also provides engineering, procurement and construction (EPC) services across utility-scale, commercial, industrial and institutional segments.
In October 2024, Solex unveiled plans for a roughly US$1 billion expansion of its solar module and cell production capacity. The company said it would explore the development of a 2GW solar cell facility, with potential to scale capacity up to 5GW. Both cell and module production were set to focus on n-type tunnel oxide passivated contact (TOPCon) technology using rectangular solar cells.
Furthermore, Solex launched two n-type solar modules designed for Rajasthan’s extreme climate conditions and high-irradiance regions last year. The first module, Tapi R, is a TOPCon module and the second, Tapi Series, is an n-type dual-glass module.
PV Tech has contacted Solex for further details on its plans to realise the proposed facility.
