Solex Energy has struck a major Rs. 4,000 crore deal with the Government of Gujarat to build a large-scale integrated renewable energy manufacturing ecosystem, marking one of its most ambitious expansion moves yet.
The MoU was signed by Vipul Shah, Director, Solex Energy Limited, and Swaroop P, Industrial Commissioner, Government of Gujarat. The ceremony saw strong political presence, including Bhupendra Patel, Chief Minister of Gujarat, and Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Government of India.
The MoU includes setting up a 5 GW solar cell manufacturing facility (Phase I: 2 GW, Phase II: 3 GW) and a 10 GW battery energy storage system (BESS) manufacturing facility.
The project comes as Solex marks 30 years in India’s solar sector and positions itself deeper into high-value clean energy manufacturing, particularly solar cells and advanced storage systems.
Calling the agreement a strategic leap, Chetan Shah, Chairman & Managing Director, Solex Energy Limited, said: "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.”
He further added, “Aligned with our Vision 2030, Solex remains committed to building not just infrastructure, but impact, through sustainable innovation, job creation, and skill development, especially by empowering young talent from underserved and tribal communities.”
The company said the integrated facility will strengthen Gujarat’s position as a global clean-tech manufacturing hub while generating employment and accelerating India’s renewable energy goals.
With over three decades of experience in solar manufacturing, EPC, and renewable solutions, Solex Energy already operates a 4 GW automated PV module facility in Tadkeshwar, Gujarat. The company supplies domestic and international markets and is now expanding into next-generation energy storage and solar cell production.
Solex stated its broader mission remains: “Accelerating the transition to clean and sustainable energy through innovative and reliable solar solutions.”
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