SWELECT bags over 150 MW orders; raises Rs. 290 Cr funding

SWELECT Energy Systems Ltd has secured orders exceeding 150 MW for its TOPCon Bi-facial solar PV modules. Additionally, the company has successfully raised Rs. 290 crore through Non-Convertible Debentures (NCDs) in 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,” the company said.

Speaking on these milestones, 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.”