SWELECT Secures Over 150 MW Of Solar Module And Raises ₹290 Crores To Power Expansion

Mumbai, March 12th, 2025: 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 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.

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 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 ₹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.


About SWELECT Energy Systems Ltd.

Established in 1984, SWELECT Energy Systems Limited is a leading solar power solutions company with a robust presence in the global energy market. SWELECT specializes in the manufacturing of solar photovoltaic (PV) modules, power conditioning units, and offers comprehensive engineering, procurement, and construction (EPC) services. The company's state-of-the-art manufacturing facilities and technical proficiency underscore its commitment to delivering high-quality, sustainable energy solutions. In the financial year ending March 31, 2023, SWELECT reported revenues of ₹3,903.32 million, reflecting its solid market position and operational excellence. Headquartered in Chennai, India, SWELECT Energy Systems Limited is listed on both the Bombay Stock Exchange (BSE: 532051) and the National Stock Exchange of India (NSE: SWELECTES).

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