Insolation Energy said that it's wholly owned subsidiary, Insolation Green Energy has bagged a letter of allotment of land admeasuring 1,82,108.5 square meters at manufacturing zone for power and renewable energy equipment at Mohasa, Madhya Pradesh.
The early allocation of land is one step forward in aligning its aspirations of $1 billion of revenue. This unit will be the fourth and largest manufacturing capacity of the Insolation Group, where the company will double the existing solar module manufacturing, adding solar cell manufacturing & aluminum framing for backward integration, it added.
With this capacity expansion, the total cumulative capacity of the Insolation group will reach 8 GW of solar module manufacturing, 3 GW of solar cell manufacturing, and 36,000 MT of aluminum frame manufacturing.
This significant increase in manufacturing capacity will strengthen the company's position in the solar industry and enable it to meet growing demand while enhancing its integrated production capabilities.
Insolation Energy is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes.
The companys consolidated net profit zoomed 307.65% to Rs 61.27 crore on 119.83% increased in reveneue from operations to Rs 612.02 crore in Q2 FY25 over Q2 FY24.
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