Solex Energy has announced a significant expansion plan for its solar module capacity, aiming to reach 15 GW in Gujarat. The project, with an estimated investment of around Rs 8,000 crore, will be rolled out in multiple phases. The first phase will involve an increase in capacity by 2.2 GW, with over Rs 200 crore allocated to the initial investment.
By September this year, Solex Energy plans to boost its current capacity of 1.5 GW to 3.7 GW. Ultimately, the full 15 GW expansion will be completed in stages.
Chetan Shah, Chairman and Managing Director of Solex Energy, emphasized that this expansion is not only about increasing production but also creating new job opportunities, fostering innovation, and strengthening partnerships.
The first phase of the expansion will see a new production line that is expected to start commercial operations by the beginning of Q3 FY26. These modules will be produced using advanced TOPCon (glass-to-glass) technology, employing an automated production process. AI-driven quality control and Automated Optical Inspection (AOI) will be used for real-time monitoring and data analysis.
The new production line will be capable of producing one solar module every 16 seconds. Solex Energy is also exploring the possibility of setting up a new solar cell facility, which will initially have a capacity of 2 GW, with potential for expansion to 5 GW.
For FY25, the company reported a revenue of Rs 665 crore, reflecting an 80% increase from the Rs 368 crore it earned in the previous year. About 22% of the company’s revenue comes from its Engineering, Procurement, and Construction (EPC) segment, with the remainder generated from its solar module business.
Founded in 1998, Solex Energy is a leading Indian company in the renewable energy sector. It specializes in manufacturing high-quality solar photovoltaic (PV) modules and solar energy systems. Solex Energy serves a wide range of clients, including residential, commercial, and industrial sectors.
The company’s product lineup includes monocrystalline and polycrystalline solar panels, solar water heaters, and complete solutions for rooftop and ground-mounted solar projects. Solex Energy is committed to sustainability and uses cutting-edge technology and efficient manufacturing processes to provide reliable solar solutions. By promoting clean energy, the company continues to contribute to India’s renewable energy goals.
