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Solex Energy Ltd has announced an investment of approximately INR 4,000 crore to develop an integrated renewable energy manufacturing ecosystem in Gujarat, comprising a 5 GW solar cell facility and a 10 GW battery energy storage system (BESS) project. The Surat-based company has signed a memorandum of understanding with the state government to undertake the development in phases. The solar manufacturing unit will be executed in two stages, beginning with 2 GW capacity, followed by an additional 3 GW. The project is expected to support industrial growth, employment generation, and strengthen Gujarat’s position in clean energy manufacturing, while contributing to India’s renewable energy capacity expansion.
Solex Energy Ltd has signed a memorandum of understanding with the Government of Gujarat to invest approximately INR 4,000 crore in developing an integrated solar cell manufacturing facility and a large-scale battery energy storage system (BESS) project in the state, as part of its expansion in the renewable energy sector. Advertisement
The proposed development includes the establishment of a 5 GW solar cell manufacturing facility, which will be executed in phases. The first phase will involve the development of 2 GW capacity, followed by an additional 3 GW in the subsequent phase, according to a company statement issued in the past week.
In addition to manufacturing, the company plans to develop a 10 GW battery energy storage system project, aimed at supporting grid stability and enhancing the efficiency of renewable energy integration. The combined investment is intended to create a comprehensive renewable energy ecosystem encompassing both production and storage capabilities.
The Surat-based company indicated that the project would be developed as a large-scale integrated facility, contributing to the state’s industrial ecosystem. The investment is expected to support Gujarat’s ongoing efforts to strengthen its position as a manufacturing hub for clean energy technologies.
According to the company’s chairman and managing director, Chetan Shah, the agreement with the state government reflects a broader commitment towards advancing India’s clean energy transition, with a focus on long-term infrastructure creation rather than a standalone investment initiative.
The development is also expected to generate employment opportunities and support ancillary industries linked to renewable energy manufacturing. By integrating solar cell production with energy storage infrastructure, the project aims to address both supply and storage requirements within the renewable energy value chain.
Gujarat has emerged as a key destination for renewable energy investments due to its industrial infrastructure, policy support, and access to logistics networks. The addition of large-scale manufacturing and storage capacity is expected to further strengthen the state’s position in the sector.
The phased execution of the solar cell facility allows for capacity expansion aligned with market demand and technological advancements, while the battery storage project is expected to play a role in balancing intermittent renewable energy supply.
The proposed investment aligns with India’s broader renewable energy targets, which include scaling up domestic manufacturing capabilities and reducing reliance on imports for critical components such as solar cells and storage systems.
Overall, the project represents a combined manufacturing and infrastructure initiative aimed at strengthening the renewable energy ecosystem, with Gujarat continuing to attract large-scale investments in clean technology and associated industries.
Source - PTI
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