Solex Powers Up: $1.5 Billion Bet on 🇺🇸 Solar Exports

Solex Energy, a leading Indian solar module manufacturer, has announced plans to invest USD 1.5 billion over the next five years to expand its manufacturing capabilities, with a strong focus on exporting to the U.S. market.

Currently operating a 4 GW module manufacturing facility in Gujarat, Solex will scale up production to 10 GW of modules and establish 10 GW of solar cell capacity, along with 2 GW of ingot and wafer production. The expansion will be financed in phases, beginning with a ₹5 billion institutional investment.

Managing Director Chetan Shah highlighted the U.S. market’s vast potential, noting that India’s cost competitiveness positions it as a viable alternative to Chinese solar manufacturers. He emphasized that Solex’s integrated production capabilities will enable it to deliver key solar components domestically, ensuring supply chain resilience.

As part of its growth strategy, Solex has also partnered with ISC Konstanz for research and development in advanced solar cell technologies, aimed at further reducing dependence on imports from China and strengthening India’s role in the global renewable energy value chain.

News by Rahul Yelligetti.