12-Mar-2025 03:03 PM
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Chennai, Mar 12 (Reporter) 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 by bagging orders over 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules.
These orders underscore the company's technological leadership and the trust it commands in the solar energy market.
Its 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), a press release here today said.
Additionally, Swelect Group has successfully 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.
Company MD R. Chellappan 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...////...