Insolation Energy Announces 3rd Manufacturing Plant In Jaipur

By Saur News Bureau/ Updated On Mon, Sep 16th, 2024

Insolation Energy (INA Solar)has announced the ground breaking ceremony of its new state-of-the-art manufacturing facility, located on the Delhi-Ajmer Expressway in Sawarda, Jaipur, Rajasthan. This investment of Rs 400 crore is a part of the company’s effort to strengthen its position in India’s renewable energy sector and expand its production capacity. Post the expansion, Insolation’s total module capacity will nudge the 5 GW mark, a huge landmark for a firm that until 2022, had capacity of around 500 MW.

At the ground-breaking ceremony, INA Solar’s Chairman, Manish Gupta, alongside Managing Director, Vikas Jain, revealed that the facility will cover 109,000 square meters and will have an annual production capacity of 3GW of N-TYPE/TOPCON solar panels and 12,000 metric tons of aluminum frames. The project is also expected to create over 800 jobs, contributing to economic growth in the region.

Deepak Jain, Chief Technical Officer of INA Solar, highlighted the company’s robust market presence, being listed on the BSE-SME platform and ranked among the top 10 solar panel manufacturers in India. He further noted that the company’s solar panels meet international certification standards such as IEC, ALMM, and BIS, ensuring high quality and reliability.

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INA Solar’s panels are widely used in various government-led initiatives, including Jal Jeevan Mission, Kusum Schemes(A/B/C), BSNL projects, and the Pradhan Mantri Surya Ghar Yojana, all in alignment with the government’s Make in India vision.

Even as the firm has opted to expand capacity, it will need to consider its plans for sourcing solar cells, as domestic capacity there remains well behind module making capacity. DCR modules has traditionally been an area of strength for Insolation, and going ahead, will remain key to its growth and marketshare, especially in Rajasthan in particular, and North India, where it has a strong presence.

Ever since its listing on the BSE Emerge platform, the firm has moved quickly to deliver on its expansion plans, and been rewarded handsomely for execution with its stock price, and market cap, rising exponentially.