Solex Energy Limited has informed the Exchange regarding a press release dated May 05, 2026, titled "Solex Energy Signs Landmark MoU with Government of Gujarat for Rupees 4,000 Crore Integrated Solar Cell & BESS Manufacturing Project".
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Solex Energy Limited has signed an MoU with the Government of Gujarat for a ₹4,000 crore investment to set up an integrated renewable energy manufacturing ecosystem. The project includes a 5 GW Solar Cell Manufacturing Facility (Phase I: 2 GW, Phase II: 3 GW) and a 10 GW Battery Energy Storage System (BESS) Manufacturing Facility. The MoU signing was attended by Gujarat Chief Minister, Union Ministers, and senior officials, signalling strong government support. This announcement coincides with Solex completing 30 years of operations since 1995. The company currently operates a 4 GW PV module manufacturing facility at Tadkeshwar, Gujarat.
This ₹4,000 crore investment represents a transformational expansion, moving Solex upstream into solar cell manufacturing and diversifying into energy storage. The project significantly elevates the company's scale and positions it as a comprehensive renewable energy manufacturer aligned with India's clean energy targets.