Swelect Energy Systems intends to triple its solar module manufacturing capacity to 300 MW a year, spending around ₹70 crore. The company will move its 110 MW plant at Dabaspet, Bengaluru, to another location in the city.
Swelect Managing Director R Chellappan told BusinessLine recently that his “dream” was to get to 300 MW by 2020, but the capacity addition would be calibrated to government’s support to domestic manufacturers.
Until May 2012 Swelect was known as Numeric Power Systems when it used to make uninterrupted power systems. It entered solar module manufacturing in January 2013 when it bought into Bengaluru-based HHV Solar, which was producing 30 MW of modules a year. “We quickly realised that 30 MW was not adequate capacity,” said Chellappan.
In February 2012, Numeric sold the UPS business to Legrand of France for ₹837 crore. With these funds, Swelect bought out HHV Solar in 2015-16 and quickly tripled capacity to 110 MW, and merged HHV into Swelect. Read More
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