The company said increased output of solar cells will help industry with less available land to set up power plants to venture into solar cell manufacturing.
Chetan Shah, CMD of Solex Energy, explained that the usual dimensions of solar cells are 182 mm by 182 mm, while the company’s newly launched cells, known as the Tapi-R series, are 210 mm by 182 mm.
Shah stated that the rectangular structure would provide more structural stability and allow more surface area to absorb more solar energy despite an increase in the size of hardly 100 mm for the entire cell.
Solex is exploring the development of a new cell manufacturing facility with an initial capacity of 2 GW, designed to scale up to 5 GW. Its module manufacturing capacity will also be increased from 1.5 GW to 15 GW.
The company said it also aims to expand its workforce to over 25,000 to support this growth.
India has set a target for establishing 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
Solex Energy plans to venture into solar cell manufacturing by investing over ₹6,000 crore by 2030. While the company plans to start solar cell manufacturing by 2026, it aims to set up 5 GW solar capacity by 2030.
Claiming that solar energy will continue to remain the backbone for all kinds of renewable energy, Shah said that the company would continue to focus on solar panels and cell manufacturing, though he didn’t rule out exploring further opportunities in the field of Green Hydrogen.