SWELECT Energy secures 150 MW solar module orders, raises ₹290 crore to fund 1 GW expansion

Solar energy solutions provider SWELECT Energy Systems Ltd on Wednesday (March 12) said it has secured orders exceeding 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules. The company’s modules have achieved a 100% success rate in testing by TÜV and other accredited laboratories and are undergoing Extended Reliability Testing (ERT) with third-party re-insurance backing.In addition, SWELECT has raised ₹290 crore through Non-Convertible Debentures (NCDs) in a private placement with India Infradebt Limited. The funding, secured against a portion of its solar power assets, has unlocked ₹260 crore in cash collaterals, which will be reinvested to expand SWELECT’s Independent Power Producer (IPP) portfolio to 1 GW by 2026-27.

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“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,” SWELECT Energy Systems said in a regulatory filing.R. Chellappan, Managing Director, SWELECT Energy Systems, said, “Securing over 150 MW of TOPCon module orders from the industry is an endorsement of our commitment to quality and innovation. Our 100% testing success further strengthens our resolve to deliver the 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.”

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Shares of SWELECT Energy Systems Ltd ended at ₹520.60, up by ₹22.75, or 4.57%, on the BSE.