Solex Energy has signed a landmark Memorandum of Understanding (MoU) with the Government of Gujarat to establish a large-scale advanced renewable energy manufacturing ecosystem in the state, with a proposed investment of approximately ₹4,000 crore. The MoU was signed by Shri Vipul Shah, Director, Solex Energy Limited, and Shri Swaroop P, IAS, Industrial Commissioner, Government of Gujarat. The signing ceremony was graced by the presence of Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat; Shri Hardeep Singh Puri, Hon'ble Minister of Petroleum and Natural Gas, Government of India; Shri C. R. Patil, Hon'ble Union Minister of Jal Shakti, Government of India; and Shri Harsh Sanghavi, Hon'ble Deputy Chief Minister of Gujarat, underscoring the strong support of both the Central and State Governments for this landmark investment.

Project Overview and Investment Details

The MoU encompasses the development of two major facilities with a combined investment of ₹4,000 crore. The project includes establishing a 5 GW Solar Cell Manufacturing Plant alongside a 10 GW Battery Energy Storage System (BESS) facility, positioning Solex Energy as a significant contributor to India's renewable energy manufacturing capabilities. The solar cell manufacturing plant is planned across two development phases, with Phase I targeting 2 GW capacity and Phase II covering the remaining 3 GW expansion.

Leadership Commentary

Commenting on the development, Dr. 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."

Strategic Partnership Framework

The agreement establishes Solex Energy as the primary party working directly with the Government of Gujarat, represented through its competent authority. The Government of Gujarat maintains no shareholding or financial relationship with the company, ensuring an independent business partnership focused on industrial development and job creation in the state. The proposed integrated manufacturing ecosystem is expected to significantly contribute to Gujarat's emergence as a global clean-tech manufacturing hub while generating substantial employment opportunities and accelerating India's renewable energy ambitions.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The MoU does not impose any financial restrictions, contingent liabilities, or penalties upon Solex Energy. Additionally, the agreement does not result in any changes to the company's management structure, control mechanisms, or ownership patterns.

About Solex Energy Limited

Headquartered in Surat, Gujarat, Solex Energy Limited has been a pioneer in India's solar manufacturing journey since 1995. With nearly three decades of expertise, Solex is among India's most trusted solar module manufacturers. The company operates a state-of-the-art, Industry 4.0 enabled, fully automated manufacturing facility at Tadkeshwar, Gujarat, with a production capacity of 4 GW for photovoltaic modules. Beyond manufacturing, Solex provides comprehensive EPC solutions across utility-scale, commercial, industrial, and institutional segments. The MoU signing was announced through official regulatory filings, with Company Secretary and Compliance Officer Azmin Chiniwala managing the disclosure requirements.

Solex Energy has announced its participation in Renew X Chennai 2026, a significant renewable energy exhibition scheduled from April 27-29, 2026. The company will showcase its advanced solar technologies at Hall 03, Booth B165 at the Chennai Trade Centre, marking a strategic expansion into South India's growing renewable energy market.

Event Participation Details

Advanced Product Portfolio

Solex Energy will present a comprehensive range of high-efficiency solar module technologies designed for performance, efficiency, and long-term reliability. The company's showcase will feature three key product lines:

Strategic Market Expansion

The participation in Renew X Chennai 2026 forms part of Solex Energy's broader strategy to expand its footprint in South India. Tamil Nadu continues to play a key role in India's clean energy transition, with Chennai positioned as an important hub for collaboration and growth. The company aims to engage with EPC companies, partners, institutional buyers, and industry professionals to explore collaboration opportunities.

Manufacturing Excellence

Solex Energy operates from its Industry 4.0-enabled 4.00 GW automated manufacturing facility in Tadkeshwar, Gujarat. The state-of-the-art facility leverages advanced automation, real-time quality controls, and data-driven manufacturing processes to deliver high-efficiency, high-reliability PV modules. Beyond manufacturing, the company provides comprehensive EPC solutions across utility-scale, commercial, industrial, and institutional segments.

Company Background

Headquartered in Surat, Gujarat, Solex Energy Limited has been a pioneer in India's solar manufacturing journey since 1995, putting soul in solar for nearly three decades. The company is among India's most trusted solar module manufacturers and holds globally recognized certifications while exporting to multiple countries. Solex serves as a preferred OEM partner to internationally recognized brands and is committed to accelerating the transition to clean, reliable, and sustainable energy.