Solex Energy plans to scale up manufacturing capacity to 15 GW by 2030

Solex Energy has plans to scale up its module manufacturing capacity to 15 gigawatts which would entail an investment of Rs 8,000 crore, CMD Chetan Shah said on Monday.

The investment will be made under 'Solex Energy Vision 2030' plan, the top company official told PTI.

"We will increase module manufacturing capacity from 1.5 GW to 15 GW. The execution of the plan will require an investment of around Rs 8,000 crore," Shah said.

Equity market will be the major source of investments and the remaining will come from financial institutions, he said.

The plan also includes setting up a greenfield cell manufacturing facility with an initial capacity of 2 GW with an option to increase it up to 5 GW. Cell is a key component of solar module.

The Indian solar market is a progressing market where the government is taking efforts to ensure availability of efficient modules for usage.

The Approved List of Models and Manufacturers (ALMM) is an example of it, the CMD said adding "we have introduced N-Type TOPcon technology in modules featuring rectangular Tapi-R series cells which comes with latest technology in the market."

The Tapi-R series comprises a cell size of 182.2 x 210 mm and 132 Half-Cut cells, delivering up to 23.14 per cent efficiency. It is particularly suited for large-scale solar projects in challenging environments, such as deserts and barren lands.

Shah further said,"We recently became the first Indian PV module manufacturer to secure the prestigious MCS 005 certification under the BSI Kitemark, accredited by the United Kingdom Accreditation Service (UKAS).