Solex Energy has announced plans to invest nearly ₹4,000 crore in Gujarat to establish a large-scale renewable energy manufacturing ecosystem, marking a major expansion of its clean energy portfolio. The investment will be directed toward setting up a 5 GW solar cell manufacturing facility along with a 10 GW Battery Energy Storage System (BESS) project, strengthening India’s domestic capabilities in both solar manufacturing and energy storage.
The proposed solar cell plant will be developed in two phases. In the first phase, Solex Energy plans to commission 2 GW of manufacturing capacity, followed by an additional 3 GW in the second phase, taking the total capacity to 5 GW. This phased approach is expected to help the company scale operations strategically while aligning with growing demand from India’s rapidly expanding solar sector.
The announcement follows the signing of a Memorandum of Understanding (MoU) between Solex Energy and the Government of Gujarat, reinforcing the state’s position as a leading hub for renewable energy manufacturing and investment. Gujarat has increasingly attracted clean-tech projects due to its industrial infrastructure, policy support, and access to port-based logistics.
For Solex Energy, the move represents a significant step beyond its existing solar solutions business, enabling deeper integration across the solar value chain. By entering solar cell manufacturing—one of the most critical segments in module production—the company is positioning itself to capitalize on India’s push for greater self-reliance in clean energy manufacturing.
The inclusion of a large-scale BESS project also highlights the growing importance of storage technologies in supporting grid stability and enabling round-the-clock renewable power. With this investment, Solex Energy is set to become a stronger player in India’s evolving renewable energy landscape, spanning manufacturing, storage, and next-generation clean energy infrastructure.
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