Solex Energy Invests ₹4,000 Cr in Gujarat Solar & Battery Hub

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AuthorAarav Shah|Published at:
Solex Energy Invests ₹4,000 Cr in Gujarat Solar & Battery Hub
Overview

Solex Energy Ltd has announced a significant investment of ₹4,000 crore to establish a comprehensive solar cell manufacturing facility and a battery energy storage system (BESS) project in Gujarat. The company signed a Memorandum of Understanding with the Gujarat government, aiming to foster an advanced renewable energy manufacturing ecosystem. This initiative positions Gujarat as a key clean-tech hub and supports India's broader renewable energy objectives.

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Major Solar & Battery Investment for Gujarat

Solex Energy Ltd. has signed a Memorandum of Understanding (MoU) with the Gujarat government to invest ₹4,000 crore in the state's renewable energy sector. This major project will establish an integrated solar cell manufacturing facility and a battery energy storage system (BESS).

Phased Solar Cell and BESS Project Details

The plan includes a 5-gigawatt (GW) solar cell manufacturing facility, to be built in phases starting with 2 GW capacity and adding another 3 GW. Alongside this, Solex Energy will develop a 10 GW battery energy storage system (BESS), vital for grid stability and integrating renewable power.

Boosting Gujarat's Clean Energy Sector

This investment is set to greatly enhance Gujarat's position as a global clean-tech manufacturing hub. It will drive industrial growth and create significant employment, supporting Prime Minister Narendra Modi's goal of accelerating India's transition to renewable energy.

Commitment to India's Green Future

Chetan Shah, Chairman & Managing Director of Solex Energy, commented, "This MoU is not merely an investment announcement; it is a commitment towards India's clean energy future." The initiative marks a strategic effort to build domestic manufacturing for key green technologies.

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