Rayzon Solar and Caelux Advance India's Solar Manufacturing with 5 GW Alliance

Five-Year, 5 GW Partnership to Commercialize Perovskite-plus-Silicon Solar Modules

Surat (Gujarat) [India], July 22: RAYZON Solar Limited (Rayzon Solar), a leading Indian solar manufacturer, and Caelux Corporation (Caelux), a global leader in perovskite solar technology, today announced a monumental five-year, 5 GW partnership to integrate Caelux’s energy-producing solar glass with RAYZON Solar’s advanced TOPCon modules. Supporting the country’s “Make in India” vision through local manufacturing, this partnership will enable next-generation perovskite-plus-silicon modules with record-breaking efficiencies of 28%.

From Technology Integration to Commercial Deployment

Caelux’s energy-producing solar glass replaces the conventional top glass in a module with a second power-generating perovskite layer, also known as a Hybrid Tandem module. This creates modules with significantly greater power density than conventional silicon-only modules, accelerating the deployment of more clean energy. “We are dedicated to fulfilling India’s vision of establishing world-class, high-quality solar manufacturing at scale,” said Chirag Nakrani, Co-Founder & Managing Director, RAYZON Solar Limited. “By partnering with Caelux, we are furthering our technology leadership and strengthening India’s position at the forefront of next-generation solar manufacturing.” Leveraging its 11.3 GW large-scale bifacial manufacturing platform, RAYZON Solar will overlay Caelux’s energy-producing glass on its TOPCon technology to produce the highest power density modules available. “As India is one of the top solar manufacturing countries in the world, it is a strategic destination for us. This partnership is a critical step in Caelux’s growth trajectory as we look to scale our technology globally,” said Scott Graybeal, CEO, Caelux Corporation. “We are honoured to partner with RAYZON Solar, an award-winning and globally respected solar module manufacturer.” The companies are currently collaborating on early deployments, and commercial volumes are expected to be available by 2028 and eligible for India’s government-tendered utility market.

Building India’s Domestic Clean Energy Manufacturing Ecosystem

India is experiencing dramatic growth in both solar deployment and manufacturing due to the Production Linked Incentives Schemes from India’s Ministry of New and Renewable Energy (MNRE) combined with the Approved List of Models and Manufacturers (ALMM) listing requirements. “This partnership accelerates our capability to domestically manufacture at the efficiency frontier and at the scale India needs to meet its ambitious clean energy goals of 500 GW by 2030,” said Amit Barve, CEO, Rayzon Solar Limited. With facilities in Kim and Kosamba, Surat, Rayzon Solar’s ALMM-listed manufacturing platform provides the scale needed to commercialize the next-generation modules. “Having spent my career supporting both downstream project development and solar manufacturing, I am excited about the massive impact that this partnership will have for the Indian solar market,” said Vish Iyer, Managing Director, India & West Asia, Caelux Corporation.

About RAYZON Solar Limited

RAYZON Solar Limited is one of India’s largest solar PV module manufacturers, with an annual ALMM-listed module manufacturing capacity of 11.31 GW across its advanced manufacturing facilities in Surat, Gujarat. The company is in the advanced stage of commissioning a 5.1 GW TOPCon solar cell manufacturing plant, strengthening its backwards-integrated manufacturing ecosystem. Its portfolio includes high-efficiency L’LIOS N-Type TOPCon bifacial modules, backed by continuous innovation through its R&D collaboration with the University of New South Wales (UNSW). Demonstrating its commitment to sustainability, RAYZON Solar is a participant in the United Nations Global Compact, holds an EcoVadis Silver Rating, and has published Environmental Product Declarations (EPDs) for its solar module portfolio, including TOPCon products. The company is ALMM-listed, MNRE-approved, and has been recognized with the CII Performance Excellence Award 2026 and the ELLE Sustainability Awards 2025. For more information, visit www.rayzonsolar.com.

About Caelux Corporation

Headquartered in Baldwin Park, California, Caelux is a global leader in perovskite solar technology (an advanced crystalline structure that converts sunlight into electricity) development and manufacturing, delivering the lowest-cost form of new energy generation. The company’s proprietary technology transforms the top glass of solar modules into a second power generation layer, increasing energy density by up to 30% and improving LCOEs (levelized cost of electricity) by 20% or more. Through integrative design, low-cost structure, and scalable manufacturing, Caelux is unlocking a step-function advancement for the energy industry. For more information, please visit: caelux.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding the commercialisation of technology, manufacturing capacity, efficiency performance, production volumes, and timelines. These statements reflect current expectations and are subject to risks including technology development challenges, regulatory approvals, market conditions, supply chain factors, and policy changes that could cause actual results to differ materially. Neither RAYZON Solar Limited nor Caelux Corporation undertakes any obligation to update these statements.