IREDA Sanctions ₹1,134 Cr Loan for Insolation Energy’s 4.5 GW Solar Cell Plant in MP

Indian Renewable Energy Development Agency (IREDA) has sanctioned a ₹1,134 crore loan for Insolation Energy’s wholly-owned subsidiary, Insolation Green Energy.

In a regulatory filing, the company explained that the loan will help finance its new 4.5 GW solar cell manufacturing facility. The facility is being set up at Plot No. P-4, Manufacturing Zone for Power and Renewable Energy, Mohasa Babai, Makhan Nagar, Narmadapuram - 461661, Madhya Pradesh.

According to Insolation Energy, the total project cost is approximately ₹1,512 crore, out of which ₹1,134 crore has been sanctioned by IREDA, while the remaining ₹378 crore will be funded through internal accruals.

Insolation Green Energy recently initiated construction of a 4.5 GW solar cell manufacturing facility and an 18,000 MT aluminium frame unit in Narmadapuram district, Madhya Pradesh. The upcoming facility, spanning 45 acres in the Manufacturing Zone for Power and Renewable Energy, Mohasa Babai, will entail an investment of approximately ₹1,600 crore. According to IREDA, the project is expected to generate over 1,600 direct and indirect jobs, boosting local employment and contributing to the renewable energy supply chain.

The group's total cumulative manufacturing capacity planned for the next 2 years is as follows: - 

• 7 GW PV Module Manufacturing Capacity
• 4.5 GW Solar Cell Manufacturing Capacity
• 18000 MTA Aluminium Frame Production 

The company proposed to plan for 3 GW of Ingot & wafer manufacturing by the year 2028.