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Solex Energy Ltd.

20 Apr 2026

1091.00

-2.01%

BP Equities Solex Energy Ltd. Plant Visit Note 20th April 2026

Mgmt Note: Solex Energy Ltd.

BP Wealth

During our plant visit, we observed four-line solar PV module manufacturing operations at Solex's Tadkeshwar facility in Gujarat (4 GW installed capacity), with strong recipe-control automation and bifacial TOPCon G12R modules. We met the management who outlined the company's Vision 2030 roadmap covering 10 GW module capacity, 10 GW cell manufacturing, and entry into BESS. The company began with its first 700 MW line in 2021 and progressively scaled to four production lines, the latest 2.2 GW facility commencing commercial production in November 2025. Lines 1 through 4 are configured across technologies: Line 1 runs MonoPerc (single-sided) and is likely to be upgraded to TOPCon or Rear Contact technology; Lines 2, 3, and 4 operate N-type TOPCon, with 99% of TOPCon output being bifacial (dual-glass). The company produces 12,000-13,000 modules daily (8-9...

Solex Energy Ltd. is trading below all available SMAs

Is Solex Energy Ltd. worth buying?

49 Votes:

Buy 77.55%

Sell 16.33%

Hold 6.12%

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