SWELECT Wins Rs 2.9 Billion via Private Placement with India Infradebt

18 Mar 2025 CW Team

SWELECT Group has raised Rs 2.9 billion through non-convertible debentures (NCDs) in a private placement with India Infradebt. The funding, backed by a portion of its solar power assets, has released Rs 2.6 billion in cash collaterals, which will be reinvested to expand its independent power producer (IPP) portfolio to 1 GW by 2026-27. SWELECT Energy Systems, the group's solar module manufacturing arm, has also secured orders exceeding 150 MW for its TOPCon bifacial solar modules. In December 2024, the company proposed raising Rs 1.38 billion by issuing 1,385 NCDs with a face value of Rs 1 million each through private placement. These secured, unlisted, rated, redeemable, non-cumulative, taxable NCDs have a 12.5-year tenure with an average interest rate of 9.5%. Additionally, SWELECT's board has approved the conversion of Rs 400 million in loans into 4 million preference shares at Rs 100 each for its subsidiary, SWELECT HHV Solar Photovoltaics. To support its solar expansion, the company plans to establish four wholly owned subsidiaries, SWELECT Sunpower Plus, SWELECT Solarkraft, SWELECT GP, and SWELECT SE. each with an initial paid-up capital of Rs 100,000. Recent Developments SWELECT Energy Systems recently won 100 MW capacity in Solar Energy Corporation of India's (SECI) auction for manufacturing and supplying domestically produced solar modules, with an evaluated bid value of Rs 22.66/Wp. Meanwhile, global corporate funding in the solar sector reached $26.3 billion in 2024, marking a 24% year-over-year decline from $34.4 billion in 2023, according to Mercom’s Annual and Q4 2024 Solar Funding and M&A Report. Global venture capital and private equity funding in the solar sector also fell 36%, reaching $4.5 billion in 60 deals, compared to $7 billion in 70 deals in 2023. (mercom)

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..