Solex Energy Ltd News
Solex Energy net profit rises to Rs 13 cr in Apr-Sep on higher income
Solex Energy on Tuesday reported a multi-fold jump in consolidated net profit to Rs 13 crore in the April-September period of FY25, on account of higher income. It posted a net profit of Rs 0.73 crore during the six-month period ended September 2023, the company said in a regulatory filing. The company's total income jumped to Rs 274.16 crore against Rs 93.75 crore in the year-ago period. "As we look ahead, Solex remains focused on scaling up our operations and innovation to meet the growing demand for clean energy solutions across India," Chetan Shah, Chairman and Managing Director of Solex Energy, said. The company is bullish on the growing renewable energy market in India and has already announced investment plans worth USD 1 billion under its Vision 2030 strategy, he said. Solex Energy has plans to increase its module manufacturing capacity from 1.5 GW to 15 GW, which will cost around Rs 8,000 crore.
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Solex Energy partners with SBI to provide finance for solar projects
Solex Energy on Saturday said it has partnered with State Bank of India (SBI) to offer solar financing options for commercial, industrial, and institutional customers. As part of the partnership, SBI will offer solar financing through loans up to Rs 10 crore for solar projects under its Surya Shakti Solar Finance Scheme across India, Solex Energy said in a statement. "The collaboration aims to make solar energy accessible, affordable, and a driving force for India's renewable energy future. The partnership will accelerate the growth of solar energy and empower our clients and channel partners to adopt solar solutions and drive business expansion swiftly," Solex Energy Chairman & Managing Director (CMD) Chetan Shah said. While Solex Energy will offer end-to-end support to customers -- from site evaluation and design to obtaining regulatory approvals -- SBI will provide a digital platform that ensures a hassle-free loan application process for financing solar projects. Various ...
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