Chennai-headquartered Swelect Energy Systems announced this week that it has secured orders for over 150 MW for its high-efficiency TOPCon bifacial solar PV modules.
Additionally, Swelect Group has raised INR 290 crore funding through non-convertible debentures (NCDs) via a private placement with India Infradebt Ltd. “This strategic move, secured against a portion of [our] solar power generating assets, has unlocked INR 260 crore in cash collaterals,” stated Swelect.
Swelect said it would reinvest these funds to scale up its independent power producer (IPP) mode portfolio to 1 GW by 2026-27.
Chellappan, managing director, Swelect Energy Systems Ltd, said, “Securing over 150 MW of TOPCon module orders from industry is an endorsement of our commitment to quality and innovation. Our 100% testing success further strengthens our resolve to deliver highest quality solar solutions. The successful NCD funding positions us well to accelerate our expansion plans and contribute meaningfully to India’s clean energy future.”
Established in 1984, Swelect Energy Systems manufactures solar PV modules and power conditioning units. It also offers comprehensive engineering, procurement, and construction (EPC) services.
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