SWELECT Secures 150 MW Solar Module Orders - Renewable Energy News

Chennai, Mar 12 (PTI) SWELECT Energy Systems Ltd, a key player in the renewable energy sector, secured orders exceeding 150 MW for its high-efficiency TOPCon bifacial solar photovoltaic modules, underscoring its technological leadership and the trust it commands in the solar energy industry, a top official said.


The company has also successfully raised Rs 290 crore through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Ltd. "This strategic move, secured against a portion of its solar power generating assets, has unlocked Rs 260 crore in cash collaterals, which will now be reinvested to scale up SWELECT's Independent Power Producer (IPP) portfolio to 1 GW by 2026-27," the company said in a statement on Wednesday.

"Securing over 150 MW of TOPCon module orders from the industry is an endorsement of our commitment to quality and innovation. Our 100 per cent testing success further strengthens our resolve to deliver the highest quality solar solutions," SWELECT Energy Systems Ltd Managing Director R Chellappan said.

Regarding fundraising, he said, "The successful NCD funding positions us well to accelerate our expansion plans and contribute meaningfully to India's clean energy future."

The proposed business expansion and upcoming solar projects reinforce SWELECT's commitment to accelerating India's renewable energy transition, the company added.