Swelect HHV Solar Photovoltaics Private Limited, a subsidiary of Swelect Energy Systems, has commissioned a plant in Coimbatore to make solar energy panels.
R. Chellappan, Founder and Managing Director of Swelect, told the media here on Friday that the fully-automated manufacturing unit, that has come up with an investment of ₹120 crores, had the capacity to make 700 MW of solar panels a year.
Its maximum capacity utilisation will be about 500 MW to meet requirements for exports, domestic channel partners, EPC projects, and IPP (Independent Power Producer) projects. “We have invested ₹120 crore in land, building, production line, packaging, etc. The yearly sales from this unit will be ₹1,000 crore with maximum capacity utilisation,” he said.
A press release from the company said, “This new facility supersedes Swelect’s 140 MW facility functioning since 2013 in Bangalore in order to address the new specifications.”
Mr. Chellappan added that Swelect has exported to the U.S. through its U.S. entity and is looking at markets such as Australia and west Asian countries for direct exports and through subsidiaries.
“We want to get into cell manufacturing too in one to two years and it should be with a joint venture partner,” he added.