Solex Energy (an Indian solar technology and manufacturing company) has entered into a memorandum of understanding with the Government of Gujarat to establish two major clean energy manufacturing facilities in the state, committing a total investment of USD 479.04 million.

The agreement covers a 5 GW solar cell manufacturing facility and a 10 GW battery energy storage system factory, marking a significant expansion of the company's industrial footprint in Gujarat.

Two Facilities, One Agreement

The MoU signed between Solex Energy and the Government of Gujarat encompasses two distinct manufacturing projects. The first is a solar cell production facility with a total planned capacity of 5 GW.

The second is a battery energy storage system factory with a capacity of 10 GW. Both facilities are to be located in Gujarat, the state where the company is already headquartered and operates its existing manufacturing infrastructure.

The combined investment commitment of USD 479.04 million underlines the scale of the undertaking. Solex Energy has not indicated at this stage which specific locations within Gujarat have been chosen for the new facilities, beyond confirming the state as the destination for both projects.

Phased Development for Solar Cell Capacity

The 5 GW solar cell facility is planned as a two-phase development. The first phase will see the installation of 2 GW of solar cell manufacturing capacity, while the second phase will add a further 3 GW, bringing the total to the targeted 5 GW figure.

No specific timeline for either phase has been disclosed in connection with the MoU announcement. The phased approach reflects a common strategy in large-scale manufacturing investments in India's solar sector, allowing companies to bring initial capacity online before committing the full capital required for complete buildout.

Company Background and Existing Operations

Solex Energy is headquartered in Surat, Gujarat, and already maintains a significant manufacturing presence in the state. The company operates a fully automated, Industry 4.0-enabled manufacturing facility in Tadkeshwar, Gujarat, which has a photovoltaic module production capacity of 4 GW.

The new solar cell facility would represent a move further upstream in the solar supply chain, as cell manufacturing sits at an earlier production stage than module assembly.

The distinction between solar cell manufacturing and module manufacturing is relevant to India's broader industrial ambitions in the solar sector. While module manufacturing capacity has grown substantially across the country in recent years, domestic solar cell production has remained more limited, creating ongoing dependence on imported cells. An additional 5 GW of domestic solar cell capacity would contribute to closing that gap.

BESS Factory Adds Storage Dimension

Alongside the solar cell facility, the 10 GW BESS factory represents a move by Solex Energy into the battery energy storage manufacturing segment. Battery energy storage systems have become an increasingly important component of India's energy infrastructure plans, as the country works to integrate growing volumes of intermittent renewable generation into the grid.

The source material identifies the planned storage factory as a lithium-ion facility, consistent with the dominant battery chemistry currently used in grid-scale and commercial energy storage applications. A 10 GW manufacturing capacity would place the facility among the larger BESS production operations in India if brought to fruition.

Gujarat's Role as a Manufacturing Hub

The choice of Gujarat as the location for both facilities is consistent with the state's established position as a hub for solar and clean energy manufacturing in India. Solex Energy's existing operations in Tadkeshwar demonstrate the company's prior commitment to the state, and the new MoU deepens that relationship through a formal agreement with the state government.

Gujarat has attracted multiple large-scale renewable energy manufacturing investments in recent years, supported by the state's industrial infrastructure, port access, and policy environment. The Solex Energy MoU adds to a growing list of commitments from manufacturers looking to establish or expand production capacity within the state.

Leadership and Strategic Context

Dr. Chetan Shah serves as Chairman and Managing Director of Solex Energy. The company's decision to pursue both upstream solar manufacturing and battery storage production simultaneously signals an intention to participate across multiple segments of the clean energy value chain, rather than concentrating solely on its established module manufacturing business.

The investment, if executed as planned, would substantially increase Solex Energy's total manufacturing footprint and broaden its product range to include solar cells and battery storage systems alongside the photovoltaic modules it currently produces. The USD 479.04 million commitment represents a major capital allocation for a company whose existing Gujarat operations center on a 4 GW module production facility.

Powering Your Pipeline: Stay Ahead of Asia-Pacific's Energy Boom

Every major shift in the Asia-Pacific power sector creates a window of opportunity — but only for those who see it coming. Whether it's a new grid expansion in Southeast Asia or a renewable energy tender issued across the Pacific Rim, the organizations that act on intelligence early are the ones that win contracts, build partnerships, and drive growth.

The Global Project Tracking (GPT) platform by Blackridge Research was built for exactly this kind of competitive environment. It delivers structured, reliable data across the full project lifecycle, giving power sector professionals a clear view of where investment is flowing and where decisions are being made across Asia-Pacific markets.

From utility-scale solar farms to cross-border transmission infrastructure, the platform captures every stage of development, so your team never misses a critical move in the market.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

See the full depth of Asia-Pacific power sector intelligence for yourself — contact Blackridge Research today and Book a Free Demo of the Global Project Tracking (GPT) platform.