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 financial year (FY) 2024-25.
The company will also commission production capacity for 12,000 tons of aluminum frames and 1.4 GW of solar cells by March next year.
“A technical collaboration is already in place with a supplier for 1.4 GW of cell manufacturing capacity to be commissioned in 2025-2026 and this will help meet the current robust demand and demonstrate the latest adopted and established technology ,” stated Insulation Energy.
Chairman Manish Gupta and Managing Director Vikas Jain said Insolation Energy achieved its highest quarterly revenue since inception in the first quarter of fiscal 2024-25. They added that robust demand will continue the momentum in the coming quarters.
In the first quarter of FY 2024-25, Insolation Energy achieved volume growth of 181.86% year-on-year on a consolidated basis. During the same period, total revenues exceeded the value recorded in the first half of the 2023-2024 financial year.
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