Websol Energy Systems Obtains Funding for Expansion Project from IREDA
Kolkata-based solar panel and module manufacturer, Websol Energy Systems Limited, has unveiled its ambitious plan to construct cutting-edge manufacturing facilities for 600 MWP Mono PERC bifacial solar cells and 550 MWP modules. To kickstart this expansion venture, the company has successfully obtained project funding from the Indian Renewable Energy Development Agency (IREDA). The funding, amounting to a term loan of Rs. 179.20 Crores, has been granted by IREDA, with both parties having executed the necessary financial closure agreement.
Websol Energy Systems Limited created a charge on project assets in favour of the Indian Renewable Energy Development Agency Limited on May 31, 2023, as a precaution to protect the loan amount of Rs. 179.20 Crores. This charge has been recorded with the government and assigned the charge ID number 100726342.
The firm has already received the distribution of money for the project as part of the agreed-upon borrowing programme.
About Websol Energy Systems:
Websol Energy System Limited, an Indian-based company specializing in the production of solar cells and modules, continues to make significant strides in the renewable energy sector. The company primarily operates within the manufacturing of Solar Photo-Voltaic Cells and Modules segment. With its relentless efforts, Websol Energy System Limited has successfully increased its renewable capacity installations to an impressive milestone of over 94.43 gigawatts (GW). This accomplishment highlights the company’s commitment to promoting sustainable energy solutions and contributing to India’s clean energy goals.
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