Swelect Energy raises Rs 290 crore for expansion
It has secured orders over 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules
DTNEXT Bureau
NEW DELHI: 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.
It has secured orders over 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules. These orders underscore Swelect’s technological leadership and the trust it commands in the solar energy market.
Additionally, Swelect Group has raised Rs 290 crore funding through Non-Convertible 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 Rs 260 crore in cash collaterals—funds that will now be reinvested to scale up Swelect’s IPP portfolio to 1 GW by 2026-27.
R Chellappan, MD, Swelect Energy Systems, said, “The successful NCD funding positions us well to accelerate our expansion plans and contribute meaningfully to India’s clean energy future.”