Solex Energy Bets Big on Domestic Solar Cells and Storage Technology in Gujarat

Solex Energy Bets Big on Domestic Solar Cells and Storage Technology in Gujarat

May 5, 2026

Solex Energy, a rising force in India’s renewable sector, has announced a massive ₹4,000 crore investment to establish a state-of-the-art solar cell manufacturing facility and a Battery Energy Storage System (BESS) project in Gujarat. This strategic move is designed to reduce India’s dependence on imported solar components while simultaneously addressing the critical need for large-scale energy storage. By building its own solar cells, Solex is moving toward a vertically integrated model, ensuring better control over its supply chain and costs as the domestic market grows.

A significant portion of the investment is earmarked for BESS (Battery Energy Storage Systems). As the Indian grid recently navigated record peak demands of 256 GW, the “missing link” has consistently been the ability to store solar energy for use after sunset. Solex’s focus on storage aligns perfectly with the national mandate to stabilize the grid. The new Gujarat facility is expected to use cutting-edge technology to produce high-efficiency cells, catering to both the large-scale utility market and the rapidly expanding rooftop solar segment. This investment is a strong vote of confidence in Gujarat’s industrial ecosystem, which has already become a hub for renewable energy manufacturing. By creating a localized cluster for cells and batteries, Solex Energy is positioning itself to benefit from the government’s Production Linked Incentive (PLI) schemes. For the broader industry, this move signals that Indian players are no longer content with just assembling modules; they are now investing in the complex, “deep-tech” layers of the solar value chain to ensure long-term energy sovereignty.