5 GW solar cell and 10 GW energy storage facilities to boost clean-tech manufacturing.

Solex Energy Signs MoU with Gujarat for ₹4,000 Crore Solar Cell, BESS Project.

Solex Energy Ltd has signed a memorandum of understanding (MoU) with the Government of Gujarat to establish an integrated renewable energy manufacturing ecosystem with a proposed investment of around ₹4,000 crore. The project aims to significantly enhance Gujarat’s clean-tech manufacturing capacity while generating employment and supporting industrial growth. Under the agreement, Solex Energy will set up a 5 GW solar cell manufacturing facility, to be developed in phases—2 GW in Phase I and 3 GW in Phase II—alongside a 10 GW battery energy storage system (BESS) manufacturing unit. The initiative is aligned with India’s push for domestic manufacturing and energy security. Chetan Shah, Chairman and Managing Director of Solex Energy, said the project will help reduce import dependence and strengthen the renewable energy supply chain. He added that expanding into advanced solar cell and energy storage manufacturing is critical for building a resilient ecosystem and supporting the global energy transition.