Heavy Electrical Equipment Company Added 300 KW Solar PV Power Plant Capacity with 200 kWh BESS Hybrid System
The company has a market cap of over Rs 800 crore and the stock is up by 16.3 per cent from its 52-week low of Rs 460 pr share.
SWELECT Energy Systems Limited has added the capacity by 300 KW Solar PV Power Plant with 200 kWh Battery Energy Storage System (BESS) Hybrid System integrated in the existing 1 X 500 KW Wind Energy Generator operated at Dharapuram Taluk, Tirupur District, Tamil Nadu Further in continuation to our earlier communication dated 7th October 2024 we would like to inform you that, SWELECT Clean Energy Private Limited (Subsidiary Company) has successfully commissioned an additional Solar Power Plant having the capacity of 3 MW at Kambliyampatti Village, Dindigul East Taluk, Dindigul District, Tamil Nadu on 31st March 2025. With this, the subsidiary company has a 22MW capacity of power generation.
Earlier, the Board of Directors of SWELECT Energy Systems Limited approved a Rs 2,50,00,000 investment to subscribe to Redeemable, Non-Convertible, Non-Cumulative 0.01 per cent Preference Shares in its wholly-owned subsidiary, Noel Media & Advertising Private Limited, thereby holding 100 per cent of these preference shares while maintaining 100 per cent equity shareholding. This related party transaction, conducted at arm's length, aims to meet Noel's funding requirements, with the acquisition expected to be completed by March 31, 2025. Noel, incorporated in 2006 and primarily operating in power generation after a 2014 demerger, has a 1 MW solar power plant in Tamil Nadu, with a turnover of Rs 167.45 lakh for the financial year ending March 31, 2024.
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Swelect Energy Systems Ltd, incorporated in 1994, is engaged in the business of manufacturing and trading of Solar power projects, off-grid solar photovoltaic modules, based on crystalline silicon technology (c-Si), solar and wind power generation, contract manufacturing services, installation and maintenance services, sale of Solar Photovoltaic inverters and energy efficient lighting systems.
The company has a market cap of over Rs 800 crore and the stock is up by 16.3 per cent from its 52-week low of Rs 460 pr share.
Disclaimer: The article is for informational purposes only and not investment advice.