IREDA Sanctions Loan of 21,134 Crores to Insolation Green Energy for 4.5 GW Solar Cell Manufacturing

Insolation Energy Ltd announced that Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of 21,134 Crores for financing the new manufacturing facility of 4.5 GW Solar Cell Manufacturing being set up by their Wholly Owned Subsidiary Insolation Green Energy Private Limited. The total project cost is approximately 21,512 Crores, out of which 21,134 Crores are sanctioned by IREDA, and the remaining 2378 Crores will be funded by internal accruals of the company. The company is progressing as per the plans of backward and forward integration of the entire solar energy value chain. The Solar Cell manufacturing facility will be a step in this backward integration Journey. The group's total cumulative manufacturing capacity within the next 2 years will be 7 GW PV Module Manufacturing Capacity, 4.5 GW Solar Cell Manufacturing Capacity, and 18000 MTA Aluminium Frame Production. The Company proposed to plan for 3 GW of Ingot & wafer manufacturing by the year 2028.