Solex Energy Receives ₹451 Crore Solar Modules Order from KPI Green Energy

Solex Energy Limited has informed the stock exchanges that it has received a work order from KPI Green Energy Limited. The order is for the manufacture and supply of 310 MW of N-Type TOPCon 615Wp Glass-to-Glass (G12R) Solar PV Modules. The total order value is ₹4,510.92 million, inclusive of all duties and taxes.

As of 12:27 PM on May 6, 2025, KPI Green Energy share price was trading at ₹384.55, down ₹12.55 or 3.16% for the day, whereas Solex Energy was trading at 

Execution Timeline 

According to the disclosure filed on May 5, 2025, the work is expected to begin in September 2025 and is scheduled to be completed within six months. The nature of the contract involves the domestic manufacture and supply of solar PV modules.

Entity Awarding the Contract

The order has been placed by KPI Green Energy Limited, a Surat-based company. It is a domestic contract. Solex Energy confirmed that this transaction does not involve any related party and there is no promoter group interest in KPI Green Energy.

Contract Terms and Structure

The company stated that the terms and conditions of the contract will follow those outlined in the work order. No further detailed conditions were disclosed in the announcement. Solex also clarified that the transaction does not fall under the category of related party transactions and is carried out on standard terms.

Read More: Solex Energy Achieves Key Milestone With 65,000 Solar Modules Produced in December 2024

Regulatory Disclosure

The filing was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referred to the applicable SEBI circular dated July 13, 2023, for the format of disclosure.

Company Statement 

The announcement was signed by Chetan Sureshchandra Shah, Chairman and Managing Director of Solex Energy Limited. No additional commentary was provided in the disclosure.

Conclusion

The order will be executed over a six-month period starting September 2025. The disclosure has been made for compliance and record purposes.

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