Solex Energy has entered into a memorandum of understanding (MoU) with ISC Konstanz to engage in advanced research and development (R&D) and collaborate on technology for solar cell manufacturing.
The announcement was made at a press conference held in New Delhi, India.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Under the MoU, ISC Konstanz will offer extensive technological assistance to Solex Energy in enhancing Solex’s upcoming TOPCon cell line and in the integration of advanced rear contact and cSi tandem/perovskite solar technologies.
This collaboration will also facilitate the creation of Solex’s specialised in-house R&D line, leveraging ISC Konstanz’s patent portfolio to drive ongoing innovation within India.
Solex Energy intends to invest $1.5bn over the upcoming five years to expand its manufacturing capacity, with a focus on increasing exports to the US.
Industry officials and analysts report that the US is accountable for 90% of India’s solar module export market, reported Reuters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSolex Energy chair and managing director Chetan Shah said: “This partnership marks a defining chapter in Solex’s journey toward technological excellence and global leadership.
“Under our Vision 2030, we are committed to transforming India into a hub of solar innovation with a targeted valuation of Rs1 lakh crore, a $1.5bn investment, and 25,000 highly skilled team members driving that vision forward.
“Last year, during the Renewable Energy India (REI) exhibition 2024, Solex introduced India’s first solar module powered by rectangular cells, setting a precedent for technological leadership in the country.”
Under Solex’s Vision 2030, the company aims to establish 10GW of solar module and 10GW of solar cell manufacturing capacity.
During the same event, Solex introduced a concept launch of India’s first rear contact solar module, TAPI Rear Contact, representing an advancement in both design and efficiency.
TAPI is a registered name and logo owned by Solex Energy.
The TAPI Rear Contact module, powered by advanced N-type rear contact technology, is said to offer efficiency up to 24.60% and power output of 665W.
Solex plans to begin commercial production of TAPI Rear Contact by financial year 2027.
Shah added: “Our focus is not just on scaling capacity but on delivering unmatched value through efficiency, reliability, and performance.
“As we expand our global presence across India, Europe, and the US, we aim to build a future where clean, affordable energy empowers every home, business, and community. Together with ISC Konstanz, we are turning that vision into reality.”
As a key component of its growth strategy, Solex is seeking new collaborations with dealers and distributors both within India and in international markets such as the US and Europe, aiming to enhance its global presence.
