SWELECT Energy secures 150 MW solar module orders, raises ₹290 crore to fund 1 GW expansion – CNBC TV18

Solar power options supplier SWELECT Energy Methods Ltd on Wednesday (March 12) mentioned it has secured orders exceeding 150 MW for its excessive-effectivity TOPCon Bi-facial solar PV modules. The corporate’s modules have achieved a 100% success charge in testing by TÜV and different accredited laboratories and are present process Prolonged Reliability Testing (ERT) with third-celebration re-insurance coverage backing.

As well as, SWELECT has raised ₹290 crore by way of Non-Convertible Debentures (NCDs) in a non-public placement with India Infradebt Restricted. The funding, secured towards a portion of its solar energy property, has unlocked ₹260 crore in money collaterals, which can be reinvested to increase SWELECT’s Unbiased Energy Producer (IPP) portfolio to 1 GW by 2026-27.

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“SWELECT Group has efficiently raised ₹290 crore funding by way of Non Convertible Debentures (NCDs) through a non-public placement with India Infradebt Restricted. This strategic transfer, secured towards a portion of its Solar Energy Producing Belongings, has unlocked ₹260 crore in money collaterals—funds that may now be reinvested to scale up SWELECT’s IPP portfolio to 1 GW by 2026-27,” SWELECT Energy Methods mentioned in a regulatory submitting.

R. Chellappan, Managing Director, SWELECT Energy Methods, mentioned, “Securing over 150 MW of TOPCon module orders from the business is an endorsement of our dedication to high quality and innovation. Our 100% testing success additional strengthens our resolve to ship the very best high quality solar options. The profitable NCD funding positions us effectively to speed up our expansion plans and contribute meaningfully to India’s clear power future.”

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Shares of SWELECT Energy Methods Ltd ended at ₹520.60, up by ₹22.75, or 4.57%, on the BSE.