Solex Energy Collects Rs. 29 Cr Order From Zodiac Energy

Solex Energy Gets Rs. 29,00,82,900 Cr Order From Zodiac Energy

Gujarat-based solar module company Solex Energy, has announced a work order for Rs. 29,00,82,900 from Gujarat-based Zodiac Energy. This order is expected to be completed within the next 3 months as per the terms of the order. Solex secured an order to  supply a 20 MW Solex bifacial perc solar module to the Zodiac energy

Solex has announced its plans to expand into solar cell manufacturing. The company told in a regulatory filling in NSE, “it is targeting a 5 GW manufacturing capacity. “We have already initiated the process for 2 GW of cell line, which is one plus one, 1 GW of cell plus 2 GW of cell for N-Type TOPcon. And then later on, whatever new technology comes up like we’ll really introduce those technology also.

Solex’s Expansion Plan Across The US

Solex founder Chetan Shah is also optimistic about prospects in the US market for the firm’s output. “When it comes to the supply to the American market, we don’t see any major Trump effect. The reason is, even the US targets are like, currently whatever target we’ve set for the US, to set up the solar plant, solar power. Even if they reduce it to half, then also be a huge demand-supply gap. The US doesn’t have sufficient manufacturing. There are a couple of factories only operating in the US which is also again with a very high price because the US ecosystem is such that the supply chain is not developed in the US It’s a consumer market. So, India has a huge opportunity, and considering the Trump and China relationship in the past, and so India is the only country that can supply modules to the US in good numbers. So, I think the Indian manufacturing will not have a negative effect of a Trump regime rather than I see it more positive. Now when it comes to your first question, which is Brownfield and the Greenfield projects. Yes, 4 GW is a Brownfield.”

Target For FY 26

Sharing the company’s plans for the coming year, Chetan Shah said, “Basically as we say it like FY ’25 we are targeting somewhere about ₹800 Cr. So out of ₹800 Cr, ₹150 Cr will come from EPC, and ₹650 Cr will come from the module sales. And FY ’26, like the whole 1.5 GW will have a full financial year and six months for the another 2.5 GW. “

COVER STORY: India Eyes Historic Rise Of Solar Cell Manufacturers

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