Websol Energy to set up 1.8 GW solar cell and module manufacturing plant

The board of directors of Websol Energy System Limited, a Kolkata-based manufacturer of solar cells and modules, has approved a proposal to construct a solar cell and module manufacturing plant with a capacity of up to 1.8 GW.

The company plans to produce high-efficiency mono-passivated emitter and rear cell (PERC) and technology of tunnel oxide passivated contacts (TopCon) products. The company is in touch with power generators to supply solar cells and modules on a long-term basis. The company’s board has also sanctioned issuance of 2,380,000 equity shares of Rs 10 each at an issue price of Rs 105. In accordance with provisions of the Securities and Exchange Board of India, the shares will be issued to promoter Websol Green Projects Private Limited and financial investor, India Max Investment Fund Limited.