At the Renewable Energy India Expo 2025 (REI 2025), TaiyangNews Head of Technology Shravan Chunduri spoke with Chetan Shah, Chairman and Managing Director of Solex Energy Limited, about the company’s journey and future plans. This conversation is part of the TaiyangNews Leadership Talks.
Shah said Solex began its journey in 1995 and entered solar module manufacturing in 2007, making it one of the early PV manufacturers in India.
With over 3 decades in renewable energy, Solex has focused on a sustainable business model that has helped it navigate industry cycles and continue growing, added Shah. He highlighted that India’s solar manufacturing growth has accelerated significantly since 2019, supported by government policies such as the Approved List of Models and Manufacturers (ALMM). These measures reduced reliance on imports and encouraged domestic capacity expansion, enabling India to rapidly scale module manufacturing.
Similar progress is now underway in cells, wafers, and ingots, positioning India as a global manufacturing hub. Shah explained that Solex has revised its expansion plans in response to market demand, increasing its investment from $1 billion to $1.5 billion.
Currently, it has 4 GW of module manufacturing capacity and plans to reach 10 GW each of cell and module capacity by 2030, along with 2 GW of ingot and wafer production, reflecting a stronger focus on backward integration.
Shah noted that while module manufacturing is relatively straightforward, upstream processes are more complex and require careful execution. To address this, Solex is pursuing partnerships and collaborations. The company has tied up with Germany’s ISC Konstanz to support R&D and establish a cell technology research center in India, with a focus on rear-contact cell technology tailored to Indian conditions.
Solex is also working with other technology and manufacturing partners to support efficiency improvements and scale-up, he shared.
Looking ahead, Shah said technology is currently critical, but talent and R&D will be the most important factors for long-term success. He emphasized the need for strong research centers to retain and develop Indian scientific talent, noting that Solex has already begun investing in R&D and supporting young researchers as part of this strategy.
TaiyangNews is coming back to India with the 2nd edition of the Solar Technology Conference India (STC.I 2026) on February 5 and 6 next year. The event will bring together the who’s who and emerging players in the Indian solar PV manufacturing space. Details are available here.