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Swelect Energy and Waaree Renewable win solar contracts

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Swelect Energy Systems Limited has won a contract to supply its high-efficiency TOPCon bi-facial solar photovoltaic (PV) modules for a 150 MW solar power project in India. The contract was awarded on March 12, 2025. In addition, the company has raised Rs 2.9 billion through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited. The funds will support Swelect Energy’s goal of expanding its solar portfolio to 1,000 MW by the financial year…

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SWELECT Energy to raise Rs 1.38 billion through NCDs

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SWELECT Energy Systems has announced plans to raise Rs 1.38 billion through the issuance of 1,385 non-convertible debentures (NCDs) with a face value of Rs 1 million each via private placement.  These secured, unlisted, rated, redeemable, non-cumulative, taxable NCDs will carry a 12.5-year tenure and an average interest rate of 9.5%. The funds raised will be used to strengthen the company’s financial position. The company’s board also approved the conversion of Rs 400 million in…