Insolation Energy has announced a significant expansion of its solar power portfolio through its wholly-owned subsidiary, Insolation Green Energy Private Limited. The company has incorporated multiple new special purpose vehicles (SPVs) for setting up solar power plants, marking a strategic move to strengthen its position in the renewable energy sector.

New Solar Power SPVs

Insolation Green Energy Private Limited incorporated two new wholly-owned subsidiaries:

1. HEPJ Green Infra Private Limited
2. RDPJ Green Infra Private Limited

These additions follow the incorporation of several other SPVs in the preceding days:

• DJRG Green Infra Private Limited
• NVJG Green Infra Private Limited
• PGNJ Green Infra Private Limited
• SRGE Green Infra Private Limited
• GNVP Green Infra Private Limited
• MGPE Green Infra Private Limited
• PRMJ Green Infra Private Limited

Each of these newly formed entities has an authorized share capital of Rs. 1.00 lakh, divided into 10,000 equity shares of Rs. 10.00 each. Insolation Green Energy Private Limited holds 100% of the equity shares in each SPV.

Business Focus

The primary objective of these SPVs is to engage in various aspects of solar power plant development, including:

• Erection, installation, and construction of solar power plants
• Operation and maintenance services
• Consultancy for renewable energy power plants
• Design, supply, and commissioning of rooftop solar photovoltaic projects

Strategic Expansion

This rapid incorporation of multiple SPVs signals Insolation Energy's expansion strategy in the solar power sector. By creating dedicated entities for different projects, the company aims to streamline operations and potentially take advantage of project-specific opportunities and incentives in the renewable energy space.

Loan Sanction for Manufacturing Facility

In a related development, Insolation Energy disclosed that the Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of Rs. 1,134.00 crore to Insolation Green Energy Private Limited. This loan will finance a new 4.5 GW Solar Cell Manufacturing facility in Madhya Pradesh, with a total project cost of approximately Rs. 1,512.00 crore.

Future Outlook

Insolation Energy is progressing with its plans for backward and forward integration across the solar energy value chain. The company's group targets for manufacturing capacity include:

• 7 GW PV Module Manufacturing Capacity
• 4.5 GW Solar Cell Manufacturing Capacity
• 18,000 MTA Aluminium Frame Production

Additionally, the company has proposed plans for 3 GW of Ingot & wafer manufacturing, further solidifying its position in the solar energy sector.

As these newly incorporated SPVs begin operations and the manufacturing facility comes online, Insolation Energy is poised for growth in India's renewable energy market.

Insolation Energy 's wholly owned subsidiary, Insolation Green Energy Private Limited, has received a significant boost for its solar manufacturing ambitions. The company has secured a loan sanction of ₹1,134.00 crores from the Indian Renewable Energy Development Agency Limited (IREDA) to finance a new 4.5 GW Solar Cell Manufacturing facility in Madhya Pradesh.

Project Details

The total project cost is estimated at ₹1,512.00 crores, with the remaining ₹378.00 crores to be funded through internal accruals. The state-of-the-art facility will be located at Plot No-P-4, Manufacturing Zone for Power and Renewable, Mohasa Babai, Makhan Nagar, Narmadapuram, Madhya Pradesh.

Strategic Expansion

This move represents a significant step in Insolation Energy's backward integration strategy within the solar energy value chain. The company is progressing as per its plans for both backward and forward integration across the entire solar energy spectrum.

Future Capacity Plans

Within the next two years, the Insolation Energy group has ambitious plans for its manufacturing capabilities:

Additionally, the company has proposed plans for 3.00 GW of Ingot & wafer manufacturing by 2028, further solidifying its position in the solar energy sector.

Expansion through Subsidiaries

In a related development, Insolation Green Energy Private Limited has incorporated several new wholly-owned subsidiaries as special purpose vehicles (SPVs) for setting up solar power plants. These include:

1. DJRG Green Infra Private Limited
2. NVJG Green Infra Private Limited
3. PGNJ Green Infra Private Limited
4. SRGE Green Infra Private Limited
5. GNVP Green Infra Private Limited
6. MGPE Green Infra Private Limited
7. PRMJ Green Infra Private Limited

These SPVs will focus on solar power plant development, erection, installation, construction, operation, and maintenance. They will also provide consultancy services for renewable energy power plants and handle the design, supply, erection, testing, and commissioning of rooftop solar photovoltaic power projects.

The strategic expansion and substantial loan sanction underscore Insolation Energy's commitment to strengthening its position in India's growing renewable energy sector. As the country pushes for greater adoption of clean energy, companies like Insolation Energy are poised to play a crucial role in meeting the increasing demand for solar power solutions.