Renewable energy company Solex Energy has entered into a memorandum of understanding with the Government of Gujarat to establish an integrated renewable energy manufacturing ecosystem in the state with a proposed investment of nearly Rs 4,000 crore.
The planned development includes a 5 GW solar cell manufacturing facility, which will be implemented in two phases. The first phase will add 2 GW of production capacity, followed by an additional 3 GW in the second phase. Alongside solar manufacturing, the company also intends to set up a 10 GW Battery Energy Storage System (BESS) manufacturing unit, strengthening its footprint across both solar and energy storage segments.
The project is aimed at boosting domestic manufacturing capabilities in the renewable energy sector while reducing dependence on imports for critical clean energy technologies. The integrated facility is expected to support India’s self-reliance goals and contribute to the expansion of the country’s renewable energy supply chain.
The proposed investment is also anticipated to drive industrial growth in Gujarat and support the country’s broader transition towards sustainable and clean energy infrastructure.