Rs 290 Crore Capital Boost! Solar Major Bags 150 MW Orders to Drive Expansion
Fueling Growth: Company Secures Major Solar Orders and Unlocks Funds for 1 GW Expansion by 2026-27
SWELECT Energy Systems Ltd., a key player in India’s renewable energy sector, has secured orders exceeding 150 MW for its advanced TOPCon Bi-facial solar PV modules. This reflects the company’s technological expertise and its strong position in the solar energy market. The modules have a 100 per cent success rate in quality testing, having passed rigorous assessments by TÜV and other accredited testing laboratories on the first attempt. SWELECT is also conducting Extended Reliability Testing (ERT) to ensure long-term durability.
Rs 290 Crore Funding Raised
The company has successfully raised Rs 290 crore through Non-Convertible Debentures (NCDs) via private placement with India Infradebt Limited. This funding, secured against a portion of its solar power assets, has unlocked Rs 260 crore in cash collaterals. These funds will be reinvested to scale up SWELECT’s Independent Power Producer (IPP) portfolio to 1 GW by 2026-27.
Management’s Statement
Commenting on these achievements, Mr. R. Chellappan, Managing Director of SWELECT Energy Systems Ltd., said:
"Securing over 150 MW of TOPCon module orders is a strong endorsement of our commitment to quality and innovation. Our 100 per cent testing success further strengthens our resolve to deliver high-quality solar solutions. The successful NCD funding will accelerate our expansion plans and support India’s transition to clean energy."
Focus on Renewable Energy Growth
These developments reinforce SWELECT’s dedication to advancing renewable energy in India. The company aims to set new benchmarks in the sector while expanding its solar project capacity.
About SWELECT Energy Systems Ltd.
Founded in 1984, SWELECT Energy Systems Ltd. specializes in solar power solutions. The company manufactures solar PV modules, power conditioning units, and provides engineering, procurement, and construction (EPC) services. SWELECT also operates as an Independent Power Producer and offers renewable energy services.
Disclaimer: The article is for informational purposes only and not investment advice.