Solex Wins 310 MW Solar Order From KPI Green

Solex Energy

Surat-based Solex Energy has secured a Rs. 4.51 Cr (Rs 4,510.92 million) order from KPI Green Energy to manufacture and supply 310 MW of N-Type TOPCon 615Wp glass-to-glass (G12R) solar PV modules, the company said in a stock exchange filing. The project is expected to be completed within six months from September 2025, as per the terms of the order.

Solex Energy’s latest order aligns with its long-term strategy, Chairman and Managing Director Chetan Shah said during the company’s H1 FY25 post-earnings conference call. “Right now, our targets are based only on existing demand, not on growing demand,” Shah said. “There is repowering demand — meaning projects using older panels of 220–230 Wp are now replacing them with new technology such as N-Type TOPCon and higher-efficiency modules.”

He added that repowering is emerging as a significant business opportunity not only in India but also in Europe. “There are a lot of new opportunities opening up,” Shah said. “I am confident we are not facing overcapacity. Whatever demand arises in India, we will be able to meet it and justify our installed capacity.”

Solex Energy Limited Reports 80% Revenue Growth, Strengthening Leadership in Solar Industry

In the last quarter, Solex Energy recorded an 80% increase in revenue over the fiscal year (FY 2023- 2024). The company has also maintained a compound annual growth rate (CAGR) of 110%, further solidifying its position as a leading player in the renewable energy sector.

The audited revenue figures for fiscal year 2024-2025 will be announced soon, reflecting Solex’s commitment to financial transparency and sustainable business practices. These unaudited consolidated figures highlight the company’s strong market performance and growing demand for high-efficiency solar solutions, with an 80% increase in revenue over the last fiscal year.

The new production line, targeted for completion by September 2025, is expected to commence commercial operations by the beginning of Q3 of FY 25-26. Leveraging advanced TOPCon (glass-to glass) technology, Solex integrates a highly automated production process that includes AI and AOIdriven efficiencies and a state-of-the-art Manufacturing Execution System (MES) for real-time traceability and data analytics. With a cycle time of less than 16 seconds per module, this expansion is set to enhance productivity and quality at an unprecedented scale, significantly increasing our overall manufacturing capacity.