Solex Energy Ltd. announced on Monday an investment of Rs 8,000 crore to develop a new cell manufacturing facility with an initial capacity of 2 gigawatts for a new solar module product with 'N-Type TOPcon' technology and a rectangular cell design.
The investment is part of the company's 'Vision 2030' strategy to advance solar technology and scale operations, positioning the company as a fully integrated solar player, according to a statement.
The proposed facility will have an initial capacity of 2 GW and will be designed to scale up to 5 GW. Its module manufacturing capacity will also be increased from 1.5 GW to 15 GW. Solex aims to expand its workforce to over 25,000 to support this growth, the company said.
The Tapi-R series solar module includes a large cell size of 182.2 x 210 mm, 132 half-cut cells, and a maximum power output of up to 625 watts, achieving an efficiency rate of 23.14%. It is particularly suited for large-scale solar projects in challenging environments, such as deserts and barren lands.
The series also includes a comprehensive 12-year product warranty and a 30-year linear performance guarantee, with the lowest annual degradation, the company said.
Surat-based Solex manufactures high-end photovoltaic modules. It has a factory in Tadkeshwar, Gujarat, with a 700-megawatt production capacity and 800 MW under installation.
Shares of Solex was trading 4% higher at Rs 1,383 apiece as of 3 p.m. on the NSE Emerge platform for SME companies.
RECOMMENDED FOR YOU
Nazara Tech Share Price Hits Life High On Fundraise Plan, Stake Gain In Sportskeeda Parent
Sep 19, 2024
Piyush Goyal Optimistic India’s Exports Will Exceed $825 Billion Despite Challenges
Sep 19, 2024
ADB Asks Pakistan To Adopt Indian Plan On Education
Sep 15, 2024
House Of Hiranandani To Invest Rs 3,200 Crore To Redevelop Five Mumbai Housing Societies
Sep 12, 2024
POPULAR