Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform that Indian Renewable Energy Development Agency Limited (IREDA) has ....
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Insolation Energy Ltd announced that Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of ₹1,134 Crores to its wholly owned subsidiary, Insolation Green Energy Private Limited. The loan will fund a new 4.5 GW Solar Cell Manufacturing facility being set up in Madhya Pradesh. The total project cost is approximately ₹1,512 Crores, with the remaining ₹378 Crores to be funded through the company's internal accruals. This is part of the company's backward and forward integration plans across the solar energy value chain, which targets a cumulative manufacturing capacity of 7 GW PV modules, 4.5 GW solar cells, and 18,000 MTA aluminium frames within the next two years. The company also plans to add 3 GW of ingot and wafer manufacturing by 2028.
This large sanctioned loan from a government-backed renewable energy financier strengthens the subsidiary's ability to expand into solar cell manufacturing, a key backward integration move. For shareholders, this signals significant capacity expansion backed by credible institutional funding, which could support future revenue growth, though it also increases the group's debt obligations.