SWELECT's Diversified Solar Biz Boosted Growth: Mirunalini Chellappan

SWELECT Energy has a 40-year history. How did the company begin its journey in the power sector?

Yes. We are a 40-year-old company in the Indian energy landscape. We started in 1984, focusing on Uninterruptible Power Supply (UPS) systems. UPS is a power conversion business. In UPS technology, it is about converting AC power to DC power for storage in batteries, and then converting DC back to AC when needed for applications.It was this core capability in power electronics that made the shift to solar a natural progression. 

When did the company first engage with solar energy?

Our first solar installation dates back to 1995, more of an exploratory effort to understand how solar systems work. Commercial deployment began around 2006–07, when we started integrating solar panels into UPS setups for our clients. This allowed us to use solar energy for battery charging, essentially creating hybrid solutions.

What prompted the transition from UPS to solar?

Once we saw the growing viability and long-term potential of solar energy, we decided to fully transition into renewables. We exited the UPS business and transferred it to Legrand, a French switchgear firm. That’s when we rebranded as SWELECT Energy Systems—‘SWELECT’ stands for Solar, Wind, and Electronics. The rebranding reflected our evolution from a power-focused firm to a full-fledged energy solutions company.

How did the company realign its manufacturing strategy post-transition?

SWELECT Energy consolidated eight manufacturing units into one vertically integrated facility. Initially used for inverter production, this facility was later adapted for module mounting structure (MMS) manufacturing and other balance of system components such as ACDBs, DCDBs, and array junction boxes. We also continued EPC work and expanded into the IPP space. Our first utility-scale project—a 1 MW plant in Coimbatore—was commissioned in 2012.

What led to the company’s decision to enter module manufacturing?

At that time, many customers started demanding 25- to 30-year generation guarantees. Since SWELECT Energy didn’t manufacture its own modules, we couldn’t offer full quality assurance. This created a credibility gap. To resolve this, we acquired HHV Solar in 2013–14, which gave us control over module manufacturing. That allowed us to offer integrated solutions—modules, structures, and EPC—fully backed by performance guarantees.

How has module manufacturing evolved at SWELECT Energy since the HHV acquisition?

HHV Solar had just 24 MW of manufacturing capacity when acquired. We rebranded it as SWELECT and scaled up to 1 GW. Expansion to 2 GW is already underway, and we plan to add 1 GW every year for the next five years.

Now you’re planning to enter cell manufacturing. What's the roadmap?

Yes, SWELECT Energy aims to set up its solar cell line by late 2026 or early 2027. We are moving carefully because of the rapid technological evolution and IP issues in cell manufacturing. We’re currently looking at TOPCon (Tunnel Oxide Passivated Contact) technology with provisions to upgrade to next-gen options. Choosing the right technology partner is key here.

How challenging is cell manufacturing compared to module manufacturing?

It’s a completely different game. Modules are relatively simpler, and the skill sets are widely available. In contrast, cell manufacturing is closer to semiconductor production—an area where India is still building capacity. It’s a challenge, but with strong technology partners and the right team, SWELECT Energy is confident of successful execution.

Watch the full video interview of Mirunalini Chellappan here-