After Inox, Swelect Energy Resumes Module Manufacturing at B’luru Plant

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Hours after the announcement of Inox Wind opening up all three of its manufacturing plants, solar energy products manufacturer Swelect Energy Systems Ltd too announced the resumption of operations at its solar photovoltaic (PV) modules manufacturing plant located in Bengaluru effective from April 25, 2020.

Most of the companies across the country had earlier in March shut down their operations post the government order for a lockdown amidst the spread of the coronavirus pandemic.

In line with this, Swelect Energy had shut down operations at its plants located in Bengaluru and Salem district in Tamil Nadu with effect from March 24, 2020.

Now, on the company’s request for allowing execution of an energy supply project to Airport Authority of India (AAI), the Department of Industries Centre (DIC) office had granted permission to run its facility with a skeletal strength as per MHA (Home Ministry) guidelines, the company said in a statement.

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“As per the directions issued by the Joint Director, DIC, Bengaluru, the company has been permitted to resume its operation after following the guidelines issued by the central government during the COVID-19 pandemic,” it further added.

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Accordingly, the company’s plant located at Bengaluru Rural District has resumed operations effective from April 25, 2020, in line with the directions of the Central Government both MHA and Health Advisory Departments, Swelect said.

Besides Bengaluru, the company has its manufacturing facility and Research & Development unit of mounting structures for solar modules, and transformers & inverters in Salem district of Tamil Nadu.

Recently during the month of February this year, the Board of Directors of the company had declared an interim dividend of Re 1.25 (12.5 percent) per equity share to the shareholders of the company.

Meanwhile, shares of the company closed at Rs 83.90 apiece, down 1.87 percent, from the previous close on the exchange.