Insolation Energy to set up 3 GW solar manufacturing facility in Madhya Pradesh
Author: PPD Team Date: December 19, 2024
Insolation Energy Limited has received 45 acres of land from the Madhya Pradesh government to establish a solar manufacturing facility.
The proposed unit will have a production capacity of 3 GW for solar cells, 4 GW for solar modules, and 24,000 metric tonnes of aluminium frames.
The project will be developed by Insolation Green Energy, a subsidiary of Insolation Energy, within the Power and Renewable Energy Equipment Zone in Narmadapuram, Madhya Pradesh.
The project will be executed in two phases with a total investment of Rs 18 billion. The company aims to scale operations and achieve a consolidated revenue target of Rs 80 billion.
In November 2024, Insolation Energy secured a Rs 5 billion contract from Rajasthan Renewable Energy Corporation Limited for the installation of 77 MW rooftop solar plants in Jaipur, Ajmer, and Kota, with a 25-year operations and maintenance agreement under a hybrid annuity model, and an 18-month completion timeline.