Solex Energy Limited has signed a major Memorandum of Understanding (MoU) with the Government of Gujarat to establish an integrated solar cell and Battery Energy Storage System (BESS) manufacturing project in the state with a proposed investment of around ₹4,000 crore. The agreement marks a significant step in strengthening India’s renewable energy manufacturing capabilities and supporting the country’s clean energy goals.
The MoU was signed by Shri Vipul Shah, Director of Solex Energy Limited, and Shri Swaroop P, IAS, Industrial Commissioner of the Government of Gujarat. The signing ceremony was attended by several senior leaders, including Bhupendra Patel, Hardeep Singh Puri, C. R. Patil, and Harsh Sanghavi. Their presence highlighted strong support from both the state and central governments for the renewable energy sector.
Under the agreement, Solex Energy plans to establish a 5 GW solar cell manufacturing facility in phases. The first phase will have a capacity of 2 GW, while the second phase will add another 3 GW. Along with this, the company will also set up a 10-GW battery energy storage system manufacturing facility. The integrated project is expected to boost Gujarat’s position as a major clean-tech manufacturing hub in India.
The company stated that the project will generate employment opportunities, support industrial development, and contribute to India’s renewable energy targets. It also aims to reduce dependence on imported solar and energy storage equipment by increasing domestic manufacturing capacity.
Speaking on the development, Dr. Chetan Shah said that the investment reflects the company’s commitment to India’s clean energy future. He added that the project would focus on large-scale manufacturing, innovation, and strengthening the country’s renewable energy ecosystem. According to him, the initiative is aligned with Solex Energy’s Vision 2030 strategy, which includes sustainable growth, skill development, and job creation, particularly for young people from underserved and tribal communities.
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