Solex Energy Powers Up: $1 Billion Boost Takes Solar Module Capacity to 2.2 GW

The leading solar energy firm in Gujarat, India, Solex Energy Limited, has made a historic announcement of scaling up its manufacturing capacity. The firm has increased its solar module production capacity to 2.2 GW with an investment of $1 billion, further securing its position in the renewable energy sector in India and its Vision 2030 strategy.

Key Points
Capacity Expansion: Solex Energy has expanded its module manufacturing capacity to 2.2 GW, a significant increase from its earlier capacity of 1.5 GW.

Investment Details: The expansion is a part of a $1 billion investment that will enhance solar technology and expand operations to meet increasing global demand.

Advanced Technology: The new plant utilizes state-of-the-art automation and artificial intelligence (AI), guaranteeing optimum efficiency and compliance with international quality standards for photovoltaic modules.

High-Efficiency Modules: The high-end manufacturing line produces N-Type TOPCon modules and Heterojunction Solar Cells (HJT), with industry-high efficiency of up to 23.14%.

Vision 2030 Targets: Solex Energy is planning further expansion, aiming at 15 GW module production capacity and 5 GW solar cell capacity by 2030.

Economic Impact: The firm will increase its manpower substantially, helping India's shift to clean energy while establishing exports to Europe, Africa, and ultimately the U.S.

Revenue Growth: Solex Energy recorded a revenue growth of 80% in FY25 at ₹665 crore, highlighting its strong market position.

Sources: Solex, Pv Magazine India, Renewable Watch, Equity Master, Business Standard