Solex Energy Limited has announced plans to invest approximately ₹4,000 crore to develop an integrated solar cell manufacturing facility along with a large-scale battery energy storage system (BESS) project in Gujarat. The initiative follows the signing of a Memorandum of Understanding (MoU) with the Government of Gujarat to support the creation of a comprehensive renewable energy manufacturing ecosystem in the state.
The proposed development includes the establishment of a 5-gigawatt (GW) solar cell manufacturing plant, to be executed in phases. The first phase will see the installation of 2 GW capacity, followed by an additional 3 GW in the second phase. Alongside this, the company plans to develop a 10-GW battery energy storage system project aimed at strengthening energy storage infrastructure and enabling more reliable integration of renewable power into the grid.
The Surat-based company’s investment is expected to contribute to Gujarat’s positioning as a key destination for clean technology manufacturing. The project is also anticipated to generate employment opportunities, support industrial development and contribute to India’s broader renewable energy targets.
Commenting on the announcement, Chetan Shah, Chairman and Managing Director of Solex Energy Limited, said the agreement reflects a long-term commitment to advancing clean energy capacity in the country. He noted that the initiative aligns with national priorities to scale up domestic manufacturing and strengthen energy security through renewable sources.
The integrated approach—combining solar cell production with energy storage solutions—is designed to address both generation and storage requirements within the renewable energy value chain. By developing capabilities across these segments, Solex Energy aims to support utility-scale projects as well as emerging applications requiring stable and efficient power supply.
Gujarat has been a focal point for renewable energy investments in India, supported by infrastructure readiness, policy support and industrial ecosystem development. The addition of new manufacturing and storage capacity is expected to further strengthen the state’s role in the clean energy transition.
Solex Energy continues to expand its footprint across solar manufacturing and project development, with a focus on scaling capacity and enhancing technological capabilities. The company’s latest investment underscores growing momentum in India’s renewable energy sector, driven by increasing demand for sustainable power solutions and supportive policy frameworks.
