SWELECT Energy Systems Bags 150 MW Solar Orders
SWELECT Energy Systems, a solar energy solution provider company, has unveiled a milestone achievement with over 150 MW of solar module orders and raising Rs 290 crore through non-convertible debentures (NCDs) to drive its growth.
The orders are for SWELECT's high-efficiency TOPCon Bi-facial solar PV modules, which confirm the company's position as a technology leader in the renewable energy industry. The orders reflect the confidence and trust that industry players have in SWELECT's innovative solar solutions.
For its aggressive growth plans, the firm raised Rs 290 crore from India Infradebt Limited through NCDs placed privately. This strategic financing, backed by a part of its solar power assets, freed Rs 260 crore in cash collaterals. The funds will be invested to take SWELECT's standalone power producer (IPP) portfolio to 1 GW by 2026-27.
R Chellappan, SWELECT Energy Systems Managing Director, was optimistic about the company's path: "Achieving more than 150 MW of TOPCon module orders is a reflection of our focus on quality and innovation. The successful NCD funding puts us in a strong position to drive our expansion plans faster and play a significant role in India's clean energy future".
Established in 1984, SWELECT Energy Systems is a leading solar photovoltaic module and power conditioning unit manufacturer that provides end-to-end engineering, procurement, and construction (EPC) of solar projects nationwide.
