From pv magazine India
Indian solar manufacturer Insolation Energy is expanding its solar panel production capacity to 4 GW per year with the addition of 3 GW of new lines. The additional capacity will be completed within the current fiscal year (FY) 2024-25.
The company will also commission manufacturing capacities for 12,000 MT of aluminum framing and 1.4 GW of solar cells by March next year.
“A tech tie-up is already been in place with a vendor for 1.4 GW of cell manufacturing capacity to be commissioned in 2025-26 and this will help in fulfilling the current robust demand as well as showcasing of latest adopted and established technology,” stated Insolation Energy.
Chairman Manish Gupta and managing director Vikas Jain said that in the first quarter of FY 2024-25, Insolation Energy achieved its highest quarterly sales since its inception. They added that robust demand will see the momentum continue in coming quarters.
In Q1 of FY 2024-25, Insolation Energy achieved 181.86% year-over-year volume growth on a consolidated basis. Over the same time period, total revenue surpassed the value recorded across the first half of FY 2023-24.
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