On October 13, 2025, Solex Energy Limited announced the receipt of a significant work order worth ₹544.62 crore from the Zelestra Group’s Indian entities. The order involves the manufacture and supply of advanced N-Type TOPCon 615/620Wp Glass-to-Glass (G12R) Solar PV Modules, marking a major milestone in the company’s renewable energy expansion efforts.
The Zelestra Group, headquartered in Spain and present in over 13 countries, including India, Italy, Chile, Peru, and the United States, has entrusted Solex Energy with this large-scale solar module project. The contract, valued at ₹544.62 crore inclusive of duties and taxes, underscores the company’s growing international reputation for quality solar solutions. The order was placed through 5 group entities: Ganeko Six Energy Pvt. Ltd., Navia One Power Pvt. Ltd., Navia Two Power Pvt. Ltd., Navia Three Power Pvt. Ltd., and Ganeko Two Energy Pvt. Ltd.
According to the disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, the project is expected to be executed in phases, with completion targeted between February 2026 and November 2026. The work order pertains solely to the domestic market, involving the production and supply of high-efficiency solar PV modules designed for large-scale installations.
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This deal further strengthens Solex Energy’s position in India’s fast-growing solar manufacturing sector. The contract’s domestic nature indicates sustained demand within the Indian renewable energy ecosystem, aligning with the government’s focus on self-reliant solar capacity. Notably, there is no promoter or related party interest associated with this transaction, confirming it as an independent, arm’s-length commercial deal.
On October 13, 2025, Solex Energy share price opened at ₹1,470.75 on NSE, below the previous close of ₹1,548.15. During the day, it surged to ₹1,509.15 and dipped to ₹1,470.75. The stock is trading at ₹1,504.30 as of 1:16 PM. The stock registered a decline of 2.83%.
Over the past week, it has declined by 13.52%, over the past month, it has moved up by 9.34%, and over the past 3 months, it has moved up by 8.37%.
The ₹544.62 crore order from Zelestra Group represents a substantial boost to Solex Energy’s project pipeline and a reflection of its technological capabilities. With execution timelines extending into 2026, this agreement is poised to contribute significantly to the company’s growth and India’s renewable energy ambitions.
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Published on: Oct 13, 2025, 2:46 PM IST
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