Solex Energy

May 5 (Reuters) - Solex Energy Ltd SOEX.NS:

• SIGNS MOU WITH GOVERNMENT OF GUJARAT FOR 40 BILLION RUPEE PROJECT

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May 1 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD- ENTERED MOU WITH GOVERNMENT OF GUJARAT FOR ESTABLISHMENT OF A 5 GW SOLAR CELL MANUFACTURING PLANT AND 10 GW BESS FACILITY

• SOLEX ENERGY LTD- TOTAL ESTIMATED PROJECT COST INCLUDING LAND AND BUILDING IS 40 BILLION RUPEES

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By Sethuraman N R

NEW DELHI, April 21 (Reuters) - India is staring at a severe shortage of solar cells as new rules from June mandate the use of locally made cells, a move that could derail some clean energy projects, an industry organisation said in a letter to the renewable energy ministry.

The South Asian country has around 25.6 gigawatt of solar cells production capacity against demand of about 50 GW, with imports from China accounting for more than 90% of India's solar cell demand, the North India Module Manufacturer Association said in the letter dated April 7.

A copy of the letter was reviewed by Reuters.

Around 55% of solar cells, a key component in making modules that turn sunlight into electricity, are produced in India using older technology and are rarely used in new projects, creating a mismatch between supply and project needs.

India, which is banking on solar power generation to meet its 2070 net-zero goal, already mandates the use of locally made modules. However, most of these modules are built using cells imported from China.

Mandatory use of local cells from June would drive up module prices and delay projects across the pipeline, the association said, asking the government to consider a phased rollout after nine months from June, as nearly 50 GW of solar cell capacity under construction is expected to become operational within a year.

"Immediate enforcement of mandates under these constraints may lead to severe supply shortages of compliant cells, escalation in module costs, disruptions and delays in project execution and adverse impact on India's renewable energy targets," said the association.

Manufacturers, including private firms Solex Energy SOEX.NS and Rayzon Solar RAYZ.NS have also warned that the new mandate could disrupt existing 170-GW module manufacturing capacity, needing domestic cell supplies.

The clean energy ministry has not responded to Reuters' email seeking comments.

(Reporting by Sethuraman NR; Editing by Nidhi Verma and Eileen Soreng)

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** Shares of Solex Energy SOEX.NS jump 6.5% to 895.95 rupees

** Co gets approval for capacity addition from Ministry of New and Renewable Energy

** Stock set to snap two-day losing streak

** SOEX lost ~32% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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March 9 (Reuters) - Solex Energy Ltd SOEX.NS:

• GETS 3.78 GW SOLAR MODULE MANUFACTURING CAPACITY ENLISTED IN MNRE’S ALMM LIST

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Feb 12 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD DEC-QUARTER CONSOL NET PROFIT 87.1 MILLION RUPEES

• SOLEX ENERGY LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.18 BILLION RUPEES

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** Shares of Solex Energy SOEX.NS jump by an exchange-capped maximum of 5% to 1,947.10 rupees

** Co starts commercial production of solar photovoltaic modules at its 2.2-GW capacity facility in Surat city in Gujarat

** SOEX up ~39% YTD

(Reporting by Vijay Malkar)

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Nov 10 (Reuters) - Solex Energy SOEX.NS:

• SEPT-QUARTER CONSOL NET PROFIT 52.2 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.55 BILLION RUPEES

Source text: ID:nNSE5T9Z6q

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July 1 (Reuters) - Solex Energy Ltd SOEX.NS:

• UNIT AWARDED 24.1 MW SOLAR PROJECTS WORTH 686.9 MILLION RUPEES

Source text: ID:nNSE3SMdmn

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April 8 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD - BOOSTS MODULE MANUFACTURING CAPACITY TO NEW 2.2 GW WITH ₹2 BILLION INVESTMENT

Source text: ID:nNSE3QqtLw

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Dec 10 (Reuters) - Solex Energy Ltd SOEX.NS:

• GETS ORDER WORTH 290 MILLION RUPEES

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** Indian solar module makers rise as U.S. slaps new round of tariffs on panel imports from four Southeast Asian nations

** Tata Power TTPW.NS adds 0.6%, Websol Energy WESL.NS rises 1%, Solex Energy SOEX.NS increases 1.5%, Waaree Energies WAAN.NS climbs 3.1% and Premier Energies PEME.NS up 3.6%

** Indian firms are one of the top suppliers of solar modules to the U.S.

** WAAN rises for fourth straight session, PEME gains for sixth session to hit an all-time high of 1,278 rupees

** TTPW shares up 25% YTD; PEME has risen 29% since listing in September and WAAN has increased 12% since October listing

(Reporting by Sethuraman NR)

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Oct 3 (Reuters) - Solex Energy Ltd SOEX.NS:

• GETS ORDER WORTH 76.7 MILLION RUPEES

Source text for Eikon: ID:nNSE2yRrsf

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** Shares of solar module maker Solex Energy SOEX.NS rise an exchange-allowed maximum of 10% to a record high of 1,561 rupees

** Co said on Monday it aims to invest about $1 bln by 2030 to expand existing capacities and venture into solar cell making

** Separately, co won work order worth 519.7 mln rupees ($6 mln) from Zodiac Energy for installation of solar PV modules

** Stock has surged over four-fold so far this year

($1 = 83.8030 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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NEW DELHI, Sept 30 (Reuters) - Indian solar module maker Solex Energy SOEX.NS said on Monday that it aims to invest about $1 billion by 2030 to expand its existing capacities and venture into solar cell making.

The company is in talks with multiple investors including international green funds, private equity firms and Indian lenders to raise at least 12-15 billion rupees ($140-180 million) immediately via both debt and equity, said Vipul Shah, a director at Solex.

Solex, which has an annual solar module making capability of 700 megawatts (MW), will expand this to 1.5 gigawatts by the end of the year and is looking to add a further 2.5 GW of module capacity by the end of 2026.

The company is looking to have at least 1 GW of annual solar cell manufacturing in place by mid-2027, which it aims to expand to 2GW with a total investment of 10-12 billion rupees ($125-140 million), Shah said.

The company, which is listed on the NSE exchange's small and medium-sized enterprises platform, is eyeing listing on NSE's main board by the year-end, Shah said.

Mainboard listing will help the company with more liquidity options, including investment opportunities from foreign institutions, Shah added.

An increasing number of Indian companies are looking to boost their solar module capacity and venture into cell production as the Indian government pushes for more domestic manufacturing.

The government wants to add 500 GW of clean energy capacity by 2030 to reduce carbon emissions.

(Reporting by Sethuraman NR; Editing by Kevin Liffey)

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Aug 8 (Reuters) - Solex Energy Ltd SOEX.NS:

• APPROVED ISSUANCE OF BONUS SHARES IN RATIO OF 1:4

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Aug 6 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD -GETS WORK ORDER WORTH 73.6 MILLION RUPEES

Source text for Eikon: ID:nNSE2zvlnX

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Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY - GETS ORDER WORTH 35.3 MILLION RUPEES

Source text for Eikon: ID:nNSE1t5WqJ

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July 15 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY - SIGNING OF CONTRACT WITH RIOCONN INTERACTIVE

• SOLEX ENERGY - CONTRACT FOR PLANNING, PREPARING SOCIAL MEDIA ADVERTISING

Source text for Eikon: ID:nNSE9jwkkc

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July 11 (Reuters) - Solex Energy Ltd SOEX.NS:

• GETS ORDER WORTH 160.1 MILLION RUPEES

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July 3 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY - GOT WORK ORDER WORTH 62.6 MILLION RUPEES

Source text for Eikon: ID:nNSE8Kyw4S

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July 2 (Reuters) - Solex Energy Ltd SOEX.NS:

• GETS WORK ORDER FOR 9.3 MLN RUPEES

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July 1 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD - GETS ORDER WORTH 34 MILLION RUPEES

Source text for Eikon: ID:nNSE33M27C

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June 19 (Reuters) - Solex Energy Ltd SOEX.NS:

• RECEIVED A WORK ORDER WORTH 94.5 MILLION RUPEES

Source text for Eikon: ID:nNSE6hv8fL

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May 23 (Reuters) - Solex Energy Ltd SOEX.NS:

• SIGNING MOU WITH GMEE SC SOLAR AND ATW FOR 800 M.W CAPACITY EXPANSION

• EXPANSION WITH INVESTMENT OF 700 MILLION RUPEES OF EXISTING PLANT

Source text for Eikon: ID:nNSE15Jf8c

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April 30 (Reuters) - Solex Energy Ltd SOEX.NS:

• RECEIPT OF WORK ORDER

• ORDERS WORTH 13.2 MILLION RUPEES AND 26.8 MILLION RUPEES

Source text for Eikon: ID:nNSE1sybdv

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** Shares of Solex Energy SOEX.NS rise as much as 16.8% to 720 rupees, highest since Aug. 28

** Electric utilities maker receives work order worth 129.2 mln rupees ($1.6 mln)

** More than 28,000 shares traded, 1.1x the 30-day avg

** Stock trading above 200-day simple moving avg since Jan. 3

** SOEX gained 13% so far this week

($1 = 83.0075 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 8 (Reuters) - Solex Energy Ltd SOEX.NS:

• SOLEX ENERGY LTD - RECEIVED A WORK ORDER

• SOLEX ENERGY LTD - WORK ORDER FOR 129.2 MILLION RUPEES

Source text for Eikon: ID:nNSE77pPyg

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