Solex Energy Ltd has entered into a Memorandum of Understanding (MoU) with the Government of Gujarat to invest approximately ₹4,000 crores in developing solar manufacturing and energy storage infrastructure, according to media reports. The proposed investment includes the establishment of a solar photovoltaic (PV) cell manufacturing facility with a planned capacity of 5 GW. The project is expected to be executed in phases, allowing the company to scale operations in line with market demand and technological advancements.
In addition to solar cell production, the company is also planning to set up a large-scale Battery Energy Storage System (BESS) facility with a targeted capacity of 10 GW. This initiative is aimed at strengthening grid reliability and supporting the integration of renewable energy into the power system.
The development reflects a broader push towards domestic manufacturing in India’s renewable energy sector. By investing in both solar production and storage capabilities, the project is expected to contribute to reducing reliance on imports while supporting long-term energy transition goals.
The state of Gujarat has been positioning itself as a key hub for clean energy investments, attracting companies looking to expand their footprint in solar and related technologies. Projects of this scale are also likely to generate employment opportunities and support the growth of ancillary industries.
While the agreement outlines a significant investment plan, further details regarding timelines, execution phases, and regulatory approvals are expected to emerge over time.
