Solex Energy's Vision 2030: Ambitious Expansion in Solar Module Manufacturing

Solex Energy plans to expand its solar module manufacturing capacity from 1.5 GW to 15 GW, necessitating an Rs 8,000 crore investment. This move is part of their Vision 2030, which also includes a new cell manufacturing facility. Funding will come from the equity market and financial institutions.

Solex Energy has announced a significant expansion of its module manufacturing capacity, aiming for a scalable upgrade to 15 gigawatts. This ambitious initiative will require an investment of Rs 8,000 crore, according to CMD Chetan Shah, who revealed the plans on Monday.

Under the 'Solex Energy Vision 2030' plan, the company will increase its module manufacturing capacity from the current 1.5 GW to 15 GW. The bulk of the financial backing will be secured from the equity market, with the remainder sourced from financial institutions, Shah detailed.

The Vision 2030 plan also outlines the establishment of a greenfield cell manufacturing facility with an initial capacity of 2 GW, expandable up to 5 GW. Emphasizing the progressive nature of the Indian solar market, Shah underscored the introduction of the innovative N-Type TOPcon technology in modules and highlighted their latest achievement of securing the MCS 005 certification, the first for an Indian PV module manufacturer.

(With inputs from agencies.)