SWELECT Energy Secures Major Solar Module Order, Raises Rs 290 Crore for Expansion

SWELECT Energy Systems has announced a significant order for over 150 MW of solar modules and raised Rs 290 crore through non-convertible debentures. This move will fund the company's expansion, aiming to scale up to 1 GW by 2026-27, reinforcing its leadership in the solar energy market.

SWELECT Energy Systems has secured a substantial 150 MW order for its highly efficient TOPCon Bi-facial solar PV modules. This achievement highlights the company's technological prowess and market reputation in the solar energy sector.

In a strategic financial move, SWELECT has raised Rs 290 crore through non-convertible debentures issued privately through India Infradebt Limited. This capital, backed by solar power assets, will be reinvested to enhance the company's independent power production portfolio, aiming for 1 GW capacity by 2026-27.

R Chellappan, Managing Director of SWELECT, expressed confidence in their commitment to quality, stating, 'Our successful order acquisition and NCD funding reinforce our expansion plans to contribute to India's clean energy future.' Founded in 1984, SWELECT has been a leader in manufacturing solar PV modules and providing EPC services.

(With inputs from agencies.)