Solex Energy, a domestic company offering solar panel design and solutions, has announced an investment of Rs 8,000 crore by 2030 to increase manufacturing capacity and enter the field of solar cell manufacturing. In addition, the company will also employ more than 24,000 people. Gujarat-based Solex Energy has set a target of increasing its module manufacturing capacity from the current 1.5 GW to 15 GW by 2030 as part of its expansion plan. In addition, the company also plans to create a solar cell factory with an initial capacity of two gigawatts.
The company said this
Solex Energy Chairman and CEO Chetan Shah said that as per Vision 2030, we will invest Rs 8,000 crore by 2030 to increase module manufacturing capacity to 15 GW and enter the field of solar cell manufacturing. More than 24,000 people will gain employment under this expansion plan. Replying to a question, he said that currently the number of employees of the company is more than 600. We will increase it to 1,000 by March 2025 and 25,000 by 2030. Shah said that in view of the need for skilled manpower in the solar sector, the company will focus on training the local population. Now the question arises where the company will get the money for it.
The company will take care of the money from here.
When asked about the source of the investment amount, Shah said this amount will be raised through debt and equity. There will be more equity participation in this. We may also raise capital through joint ventures. Our discussions have begun to raise funds and an announcement will be made soon. On the occasion, the Gujarat company also presented solar modules (panels) based on rectangular cells. The company claims that this is the country’s first rectangular cell solar module based on N Type Topcon technology. The company will sell it under the Tapi-R brand.
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The company has introduced this special module.
According to the company, rectangular solar panels based on Topcon N Type technology are quite efficient and last longer. Produces seven percent more electricity than traditional panels. The company has a large factory for manufacturing solar modules in Surat, Gujarat. Apart from this, the company is exploring the possibility of setting up factories in states like Madhya Pradesh, Odisha and Tamil Nadu to manufacture solar cells under its expansion plan. Replying to a question, he said the company’s revenue was Rs 363 crore in 2023-24, which is expected to rise to Rs 800 crore next year.
