SWELECT boosts solar future with 150 MW order, Rs 290 Cr funding – EQ
In Short : SWELECT Energy Systems has secured a 150 MW solar project order and raised Rs 290 crore in funding to expand its renewable energy capabilities. The investment will support the company’s efforts to enhance solar manufacturing and project execution. This move strengthens SWELECT’s position in the solar energy sector and aligns with India’s push for sustainable energy solutions.
In Detail : SWELECT Energy Systems Ltd continues to expand its leadership in India’s renewable energy sector, securing over 150 MW of orders for its high-efficiency TOPCon bi-facial solar PV modules. The company also raised Rs 290 crores to fuel its growth, aiming for 1 GW of solar assets by 2026-27.
Strong order book for solar modules
The 150 MW order for TOPCon solar modules highlights the company’s technological strength and reliability in the solar energy market. With a 100 per cent success rate in module testing, every unit has passed stringent evaluations, confirming the quality and performance of their products.
Major funding secured for growth
SWELECT has raised Rs 290 crore through Non-Convertible Debentures (NCDs) from India Infradebt Limited, secured against its solar power generating assets. This will unlock Rs 260 crore in cash collaterals, which will be reinvested to scale SWELECT’s solar portfolio, aiming for 1 GW of assets by 2026-27.
Driving India’s renewable energy transition
According to R Chellappan, Managing Director of SWELECT, these developments are crucial steps towards contributing to India’s clean energy future. The raised funds and expanded order book will accelerate SWELECT’s growth and help lead India’s transition to sustainable energy solutions.
The company’s focus on quality and innovation further solidifies its role in the renewable energy sector.
