Websol Energy to set up 1.8 GW solar cell and module manufacturing plant

Websol Energy System, a Kolkata-based manufacturer of solar cells and modules has approved a proposal to construct a solar cell and module manufacturing plant with a capacity of up to 1.8 GW. The company plans to produce high-efficiency mono-PERC and TopCon products. The company is in touch with power generators to supply solar cells and modules on a long-term basis.

The company’s board has also sanctioned issuance of 23,80,000 equity shares of Rs 10 each at an issue price of Rs 105. In accordance with provisions of the Securities and Exchange Board of India, the shares will be issued to promoter Websol Green Projects and financial investor, India Max Investment Fund.

In June 2022, ReNew Power, an independent power producer, announced that it will increase its module manufacturing capacity from the initially anticipated 4 GW to 6 GW. An estimated $325 million to $350 million in capital expenditures are anticipated for this expansion in its module manufacturing capacity. The additional capital expenditure of $140 million to $150 million will most likely cost the company 3 per cent to 4 per cent of its projected capital expenditures over the next three years. By the second quarter of 2023, the company expects to have its 2 GW cell manufacturing facility fully operational. 

GET ACCESS TO OUR ARTICLES

Enter your email address