Solex Energy signs MoU worth $61M with Zelestra Group for high-precision solar modules

Solex Energy signs MoU worth $61M with Zelestra Group for high-precision solar modules 

Gujarat-based solar manufacturer Solex Energy has recently signed a new contract valued at approximately USD 61.3 million. The deal involves supplying high-end solar modules to Zelestra Group, a renewable energy developer based in Spain. According to sources, deliveries for the project are expected to take place between February and November 2026.

High-efficiency modules for international projects

According to the new contract, Solex will deliver N-Type TOPCon 615/620Wp glass-to-glass (G12R) modules to the Zelestra Group. The new product is the outcome of Solex Energy’s unwavering focus on high-precision, reliable solar technology. These modules are beautifully crafted for large-scale renewable energy projects across multiple regions.

Solex Energy’s manufacturing capabilities are on the rise

At present, Solex Energy owns a comprehensive and fully automated 4GW solar module facility in Tadkeshwar, near Surat, Gujarat. Leveraging the capabilities of advanced robotics and precision engineering, this plant produces modules with power ratings exceeding 600 W.

The plant has already started commercial production of 800 MW, which increases its total operational capacity to 1.5 GW. While a 2.5 GW expansion is currently underway and is likely to deliver 2.5 GW by the end of FY 2026, further expansion involves building the installed capacity to 6.5 GW. As per the records, by 2030, Solex aims to achieve 10 GW each for solar modules and solar cells.

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Expansion plan highlights a steady financial growth curve

The production trends currently underway suggest that the first half of FY 2026 will deliver a 52 per cent year-on-year revenue increase to Solex Energy. Accordingly, the company will make about USD 46.8 million in FY 2026, which is more than USD 30.8 million, compared to the previous year. This growth is attributed to expanded manufacturing capacity, rising domestic and international demand, and a growing project portfolio.

Solex-Zenestra partnership spikes business momentum in the global premises 

At present, Zelestra Group has its presence in 13 countries, including India, Spain, Italy, Chile, Peru and the United States. Last year, Zelestra (Ganeko Solar) won a tender from SJVN to supply 1,200 MW of firm and dispatchable power from ISTS-connected renewable energy projects with energy storage, under a competitive bidding process.

The latest contract highlights Solex Energy’s expanding international footprint and its ability to deliver advanced solar solutions for major projects around the world, reinforcing its position as a rising player in the renewable energy sector.

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