Solex Energy Signs MoU with Government of Gujarat for ₹4,000 Crore Mega Solar Cell and BESS Project

Solex Energy Signs MoU with Government of Gujarat for ₹4,000 Crore Mega Solar Cell and BESS Project​

Surat, Gujarat, May 5, 2026: Solex Energy Limited, a rapidly expanding integrated solar energy solution provider, has entered into a landmark Memorandum of Understanding (MoU) with the Government of Gujarat. The agreement outlines plans to establish a large-scale, advanced renewable energy manufacturing ecosystem in the state, backed by a proposed investment of approximately ₹4,000 crore.

The MoU was formally signed by Shri Vipul Shah, Director of Solex Energy Limited, and Shri Swaroop P, IAS, Industrial Commissioner, Government of Gujarat. The signing ceremony saw the presence of key dignitaries, including Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat; Shri Hardeep Singh Puri, Hon'ble Minister of Petroleum and Natural Gas, Government of India; Shri C. R. Patil, Hon'ble Union Minister of Jal Shakti, Government of India; and Shri Harsh Sanghavi, Hon'ble Deputy Chief Minister of Gujarat.

Under the strategic pact, Solex Energy will establish two major facilities designed to strengthen India's self-reliance in renewable energy manufacturing:


This ambitious project represents a significant milestone for Solex Energy, marking 30 years of involvement in powering India's solar revolution. The integrated manufacturing ecosystem is expected to bolster Gujarat's status as a global clean-tech manufacturing hub, generate substantial employment, and accelerate India's clean energy ambitions.

Commenting on the development, Dr. Chetan Shah, Chairman & Managing Director of Solex Energy Limited, stated, "This MoU is not merely an investment announcement, it is a commitment towards India's clean energy future... Our integrated solar cell and energy storage manufacturing project will strengthen domestic manufacturing capabilities, reduce import dependence, and help build a resilient renewable energy ecosystem for generations to come."

Dr. Shah further added that the project aligns with the company's Vision 2030, reinforcing its commitment to building impact through sustainable innovation, job creation, and skill development, particularly by empowering young talent.

Solex Energy has built over three decades of expertise across solar manufacturing, EPC, and renewable energy solutions. The company, which was among the first Indian solar brands listed on the NSE, operates a state-of-the-art, Industry 4.0 enabled manufacturing facility at Tadkeshwar, Gujarat, boasting a production capacity of 4 GW for photovoltaic modules. Beyond manufacturing, Solex provides comprehensive EPC solutions across utility-scale, commercial, industrial, and institutional segments.

SOLEX Stock Price Movement​

Shares of Solex Energy Limited are gaining strongly as of 1:10 PM, rallying by 5.69% in live trading to trade at ₹1394.8. The stock is seeing high institutional interest, supported by a trading volume of 58,163 shares during the session.