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SWELECT Energy Systems Ltd., a well-known company in India’s renewable energy sector, has made significant progress in expanding its solar business. The company recently secured orders for over 150 megawatts of its high-efficiency TOPCon Bi-facial solar photovoltaic (PV) modules. These orders highlight SWELECT’s strong reputation for quality and innovation in solar technology. The company has maintained a 100% success rate in module testing, with each unit passing strict evaluations by TÜV and other accredited laboratories on the first attempt. To further ensure quality, the modules are undergoing Extended Reliability Testing (ERT) and are backed by third-party re-insurance for long-term performance and durability. In addition to these achievements, SWELECT successfully raised ?290 crore through Non-Convertible Debentures (NCDs). This funding was secured through a private placement with India Infradebt Limited and backed by a portion of SWELECT’s Solar Power Generating Assets. By unlocking ?260 crore in cash collateral, the company plans to reinvest the funds to expand its Independent Power Producer (IPP) portfolio. The goal is to reach 1 gigawatt (GW) of capacity by the financial year 2026-27. Mr. R. Chellappan, Managing Director of SWELECT Energy Systems Ltd., stated that securing more than 150 MW of module orders is a strong endorsement of the company’s commitment to quality. He emphasized that their 100% testing success and recent funding will accelerate SWELECT’s growth and contribute to India’s renewable energy goals. SWELECT’s latest developments reinforce its mission to support India’s transition to clean energy, setting new benchmarks in the solar industry with its advanced technologies and expansion plans. |
