Insulation Energy Limited (INA Solar) raised ₹402 crore through equity shares, get complete details

Insulation Energy Limited (INA Solar) Raises ₹402 Crore

Insulation Energy Limited (INA Solar), a prominent player in India’s solar panel manufacturing sector, has successfully raised ₹402 crore through a preferential equity share issue. This funding marks a significant step for the company as it aims to enhance its footprint in the renewable energy market, aligning with India’s ambitious green energy targets. The strong interest from investors underscores the growing demand for sustainable energy solutions in the country.

Company Leadership’s Statement

Chairman Manish Gupta and Managing Director Vikas Jain expressed their appreciation for the robust support during the fundraising process. The funds will be utilized to establish the largest solar panel manufacturing unit in Rajasthan, reinforcing INA Solar’s commitment to India’s green energy objectives. The company also aligns with the “Make in India” initiative, promoting energy self-sufficiency.

Future Expansion Plans

INA Solar is set to expand further with a new 3 GW facility in Jaipur, positioning itself among the largest solar panel manufacturers in India. Plans include a 12,000 metric tonne aluminum frame manufacturing unit by March 2025 and a 1.5 GW solar cell facility by March 2026. These strategic expansions will bolster INA Solar’s role in advancing India’s clean energy transition and enhancing its solar capacity.