SWELECT Energy Systems Ltd has secured orders exceeding 150 MW for its ‘high-efficiency’ TOPCon Bi-facial solar PV modules. Simultaneously, the company has successfully raised ₹290 crore through Non-Convertible Debentures (NCDs) in a private placement with India Infradebt Limited, paving the way for its ambitious expansion plans.
The strategic fundraising move, backed by a portion of its solar power-generating assets, has unlocked ₹260 crore in cash collaterals. This capital will be reinvested to scale up SWELECT’s independent power producer (IPP) portfolio, targeting 1 GW of solar power assets by 2026-27, according to a statement.
“Securing over 150 MW of orders for our TOPCon solar modules shows the industry’s trust in our quality and innovation. Our 100 per cent testing success proves our commitment to delivering top-quality solar solutions. The successful funding will help us speed up our expansion and support India’s clean energy growth,” said R Chellappan, Managing Director of SWELECT Energy Systems Ltd.
SWELECT ensures top quality with a 100 per cent success rate in module testing, passing strict checks by TÜV and other certified labs on the first try. To confirm long-term performance and durability, the modules—backed by third-party insurance—are also undergoing Extended Reliability Testing (ERT), added the statement.
