This green energy company got a big order which led to a rise in its shares, see full details

Solex Energy Limited Secures Major Order, Stock Surges

Solex Energy Limited has received a significant work order valued at ₹7.66 crore from the District Panchayat Raj Officer, Madhepura. This order is for a Comprehensive Maintenance Contract (CMC) over five years, along with the installation of a Remote Monitoring System (RMS) for a smart solar street light system. The project is expected to be completed within three months.

Vision 2030 Strategy Announced

In a bold move, Solex Energy has unveiled an investment plan exceeding ₹8,000 crore as part of its Vision 2030 strategy. This initiative aims to enhance solar technology and expand operations, positioning the company as a fully integrated solar provider. Plans include developing a new solar cell manufacturing facility with an initial capacity of 2 GW, eventually scaling to 5 GW, and increasing module manufacturing capabilities from 1.5 GW to 15 GW.

Company Overview and Performance

As of Friday, Solex Energy’s shares closed at ₹1620, giving it a market capitalization of ₹1750 crore. The company has recorded impressive returns of over 250% in the past year. Solex manufactures a range of solar products, including photovoltaic modules, lanterns, and solar inverters, servicing residential, commercial, and governmental sectors.