Solex Energy plans to expand its presence in the global renewable energy market by establishing solar module and cell manufacturing facilities in the United States (US). The proposed projects form part of the company’s $1.5 billion investment roadmap through 2030. In an interaction, Solex Energy Chairman and Managing Director Chetan Shah said the company is exploring opportunities in the US, which remains one of the world’s largest solar markets. He highlighted that steep anti-dumping duties on Chinese imports could create opportunities for Indian manufacturers to emerge as cost-effective and reliable suppliers.
Solex Energy Explores US Solar Manufacturing Opportunities
Shah said Solex Energy aims to capitalise on the growing global demand for clean energy components while strengthening its position as an alternative to Chinese suppliers. He added that several Indian companies are exploring investment opportunities in the US, given the market’s significant growth potential. Although Shah did not disclose specific details of the proposed US projects due to regulatory compliance requirements, he confirmed that the investments would form part of the company’s broader $1.5 billion investment plan through 2030. Meanwhile, Solex Energy has formed a dedicated team to evaluate key project parameters, including investment requirements and potential manufacturing locations in the US.
Company Expands Solar Manufacturing Capacity in India
In India, Solex Energy operates a 4 GW solar module manufacturing facility in Gujarat and plans to increase its capacity to 10 GW. Additionally, the company is establishing 10 GW of solar cell manufacturing capacity and 2 GW of ingot and wafer production capacity. These investments will strengthen its domestic manufacturing capabilities and support its long-term expansion strategy.
Seeks Extension of ALMM-II Implementation
Commenting on the Approved List of Models and Manufacturers (ALMM)-II framework, Shah said the solar industry supports the government’s initiative and has already invested thousands of crores in domestic module manufacturing to advance India’s clean energy and net-zero ambitions. However, he emphasised that the industry needs an extension of at least 12 months for ALMM-II implementation due to limited domestic solar cell availability. The ALMM-II framework mandates the sourcing of domestically manufactured solar cells from approved manufacturers listed under the applicable government framework.
Solar Module and Cell Manufacturing Capacity Gap
Highlighting the challenges facing the domestic solar manufacturing sector, Shah noted that India had approximately 262 GW of solar module manufacturing capacity as of October 2026, compared with only around 37 GW of solar cell manufacturing capacity. He further pointed out that a significant portion of the installed cell manufacturing capacity relies on older Mono PERC technology, while several facilities remain non-operational. In contrast, many recently established module manufacturing facilities are designed to use advanced TOPCon technology. This mismatch between available cell technology and module manufacturing requirements creates additional challenges for the industry. As reported by thehindubusinessline.com, Shah stressed the need to address domestic cell availability and capacity constraints to ensure the smooth implementation of ALMM-II and support India’s expanding solar manufacturing ecosystem.
