SWELECT's 290 Crore Power Play: Fueling 1GW Solar Expansion

SWELECT Energy Systems, a leading force in India’s renewable energy sector, is advancing its solar business with significant milestones. The company has secured orders exceeding 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules, reinforcing its technological expertise and industry trust.

With a 100% success rate in module testing, SWELECT ensures superior quality through rigorous evaluations by TÜV and other accredited laboratories. To further validate performance, the modules, backed by third-party re-insurance, are undergoing Extended Reliability Testing (ERT).

In a strategic financial move, SWELECT Group raised Rs 290 crore through Non-Convertible Debentures (NCDs) in a private placement with India Infradebt. This transaction, secured against solar power assets, unlocked Rs 260 crore in cash collaterals, which will be reinvested to expand SWELECT’s IPP portfolio to 1 GW by 2026-27.

With ambitious expansion plans and upcoming solar projects, SWELECT remains committed to accelerating India’s renewable energy transition while setting new industry benchmarks.

News by Rahul Yelligetti.