India's Swelect Energy increases solar module capacity to 100 MW
Rooftop solar system in India. Author: Coshipi. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
Indian company Swelect Energy Systems Ltd (BOM:532051) is boosting its capacity for the production of photovoltaic (PV) modules to 100 MW a year to tap domestic and foreign demand, local media reported.
The capacity expansion from 40 MW currently at the company's HHV Solar Technologies unit in Bengaluru will be completed in the middle of October, The Hindu Business Line said on Sunday. The investment in the project is INR 150 million (USD 2.27m/EUR 2m).
The move is designed to help the company take advantage of the growing market in India for rooftop and utility-scale installations as well as the US and European markets, managing director R Chellappan was cited as saying. Swelect is looking at exporting about 20-30% of the modules.
The company, which also builds solar systems, said Friday it has commissioned a 10-MW solar power plant in Tamil Nadu, the only project with viability gap funding support in the state.