News for SOLEX ENERGY LTD (SOLEX-SM.NS)

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Renewable energy company Solex Energy on Friday announced its plan to move to NSE main board from the exchange's MSME platform, Emerge. In a statement, the company said that it has already begun the process of migration from NSE Emerge to the main board.

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Solex Energy's shares rise after securing ₹29 crore order for solar PV modules from Zodiac Energy.

Solex Energy Ltd plans to invest over Rs 8,000 crore by 2030 to enhance solar technology, increasing its cell production to 5 GW and module capacity to 15 GW. The new Tapi-R solar modules feature N-Type TOPcon technology with high efficiency, supporting India's 500 GW non-fossil fuel goal.

Solex Energy Ltd. announced on Monday an investment of Rs 8,000 crore to develop a new cell manufacturing facility with an initial capacity of 2 gigawatts for a new solar module product with 'N-Type TOPcon' technology and a rectangular cell design. The investment is part of the company's 'Vision 2030' strategy to advance solar technology and scale operations, positioning the company as a fully integrated solar player, according to a statement.

Solex Energy plans to invest Rs 1,500 crore over three years to expand its manufacturing facility. The company aims to list on the NSE main board by December and raise fresh equity this fiscal year. Solex's module-making capacity will increase from 700 MW to 1.5 GW by December, with further expansions planned by 2027.

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Analysts caution that the sharp rally in SME stocks makes them a risky proposition at current levels, and also highlight the inherent risk associated to such investments.