SWELECT Energy Systems Ltd., a prominent player in India's renewable energy sector, continues to strengthen its position with major developments in its solar business. The company has secured orders over 150 MW for its highefficiency TOPCon Bi-facial solar PV modules. These orders underscore SWELECT's technological leadership and the trust it commands in the solar energy market.
SWELECT's commitment to excellence is reflected in its 100% success rate in module testing, with every unit passing rigorous evaluations by TÜV and other accredited testing laboratories on the first attempt. To further validate long-term performance and durability, the modules, which are backed by third-party re-insurance, are undergoing Extended Reliability Testing (ERT).
Additionally, SWELECT Group has successfully raised ?290 crore funding through NonConvertible Debentures (NCDs) via a private placement with India Infradebt Limited. This strategic move, secured against a portion of its Solar Power Generating Assets, has unlocked ?260 crore in cash collaterals-funds that will now be reinvested to scale up SWELECT's IPP portfolio to 1 GW by 2026-27.
Speaking on these milestones, Mr. R. 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."
The proposed business expansion and upcoming solar projects reinforces SWELECT's commitment to accelerating India's renewable energy transition, while setting benchmarks in the renewable energy sector.
Shares of Swelect Energy Systems Limited was last trading in BSE at Rs. 546.60 as compared to the previous close of Rs. 520.60. The total number of shares traded during the day was 4630 in over 217 trades.
The stock hit an intraday high of Rs. 546.60 and intraday low of 524.15. The net turnover during the day was Rs. 2500666.00. |
