Rayzon Solar, Caelux Sign 5 GW Deal to Advance Perovskite-Silicon Solar Modules

Indian solar manufacturer RAYZON Solar Limited and US-based perovskite solar technology company Caelux Corporation have entered into a five-year, 5 GW partnership to develop and commercialise next-generation solar modules combining perovskite and silicon technologies.

Under the partnership, Caelux's energy-producing solar glass will be integrated with Rayzon Solar's advanced TOPCon modules to produce hybrid tandem solar panels with efficiencies of up to 28%. The technology replaces conventional top glass with a second power-generating perovskite layer, enabling higher power density than traditional silicon-only modules.

The companies are currently working on early deployments, with commercial volumes expected to be available by 2028. The modules are also expected to qualify for India's government-tendered utility-scale solar market, subject to applicable requirements. The partnership is expected to strengthen India's domestic solar manufacturing ecosystem by bringing advanced high-efficiency technology into local production. It also aligns with the government's Make in India vision and efforts to build a globally competitive renewable-energy manufacturing base.

Rayzon Solar currently has an 11.31 GW annual ALMM-listed module manufacturing capacity across its facilities in Surat, Gujarat. It is also in the advanced stage of commissioning a 5.1 GW TOPCon solar cell manufacturing plant, which will further expand its backward-integrated manufacturing capabilities.

For Caelux, the partnership provides an opportunity to scale its perovskite technology in one of the world's fastest-growing solar markets. The company says its technology can increase energy density by up to 30% and improve the levelised cost of electricity by 20% or more. The collaboration comes as India's solar sector benefits from initiatives such as the Production Linked Incentive (PLI) scheme and the Approved List of Models and Manufacturers (ALMM) framework, which aim to encourage domestic production and reduce import dependence.

If successfully commercialised at scale, the partnership could help India move towards higher-efficiency solar manufacturing, enabling more electricity generation from limited land while supporting the country's long-term clean-energy ambitions. However, the projected efficiency, production and commercial timelines remain subject to technology development, regulatory approvals, market conditions and policy changes.