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SWELECT Eyes Solar Wafer Manufacturing Leap
19 Apr
Summary
- SWELECT Energy Systems is exploring entry into solar wafer manufacturing.
- Company aims to launch wafer plans within the next six months.
- SWELECT also expanding module capacity and entering battery storage.
Chennai-based SWELECT Energy Systems is actively considering an expansion into the solar wafer manufacturing sector. The company's Managing Director and CEO, Arulkumar Shanmugasundaram, indicated that wafer production presents lower complexity and fewer regulatory obstacles compared to cell manufacturing, making it an attractive venture. He mentioned that the company aims to initiate these plans within the upcoming six months.
This potential move by SWELECT comes as the Ministry of New & Renewable Energy (MNRE) has proposed including solar wafers under the Approved List of Models and Manufacturers (ALMM) from June 1, 2028, under specific conditions. Currently, India lacks a substantial domestic ecosystem for large-scale production of polysilicon, ingots, and wafers.
In its core business, SWELECT is proceeding with plans to increase module manufacturing capacity to 2 GW, despite industry overcapacity concerns. The company anticipates demand growth driven by its focus on the rooftop solar market, with established distribution networks in several northern Indian states. Furthermore, SWELECT has recently launched a Battery Energy Storage Systems (BESS) portfolio and plans to introduce hybrid and BESS products within three months, alongside expanding into the US market. The company is also on track to meet its 1 GW Independent Power Producer (IPP) target.
