INA Solar Secures INR 71.40 Crore Solar PV Modules Order from ACME Cleantech Solutions
Insolation Energy Ltd. (INA Solar) has received an INR 71.40 crore order from ACME Cleantech Solutions to supply solar PV modules. The order needs to be fulfilled in FY 2024-25.
November 13, 2024. By Mrinmoy Dey
“It is hereby informed that our wholly owned subsidiary company i.e. Insolation Green Energy Pvt. Ltd. has been awarded a purchase order for the supply of Solar PV Modules,” informed the company in an exchange filing further adding that the order needs to be fulfilled in the financial year 2024-25.
“The order, amounting to INR 71,40,00,786, has been received from ACME Cleantech Solutions Pvt. Ltd.,” it said.
INA Solar recently announced its half-yearly financial results, showcasing a remarkable performance across key metrics. The company's revenue surged to INR 612.69 crore from INR 280.06 crore in the same period last year, reflecting a robust growth of 118.77 percent.
Last month, the company raised about INR 402 crore from investors through preferential allotment of equity shares.
Currently, INA Solar boasts a production capacity of 1,000 MW for solar panels. Over the next six months, the company plans to significantly expand, adding new manufacturing units with capacities of 3 GW for solar panels, 1.5 GW for solar cells, and 12,000 MT for aluminium frames, positioning itself as a key contributor to India’s renewable energy ambitions.
“In our next phase of expansion, we envision going to 6.5 GW of operative solar module and 3 GW of solar cell manufacturing capacity in the next 3 years. We aspire to cross USD 1 billion in revenue with 10 percent+ PAT margins in the next 3 years,” the company shared in an earlier filing.
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