The Chennai-based company plans to explore wafer production within six months, betting on lower complexity and rising domestic solar demand.
SWELECT Energy Systems is actively evaluating its entry into solar wafer manufacturing, placing the focus on expanding its presence across the photovoltaic value chain. The Chennai-based energy solutions company views wafer production as a strategic opportunity, citing lower technological complexity and fewer regulatory hurdles compared with solar cell manufacturing.
The company is targeting the next six months to kick-start its wafer manufacturing plans, though detailed investment figures and production capacity have not yet been disclosed. SWELECT had earlier stayed away from solar cell manufacturing due to stringent environmental compliance norms in Tamil Nadu. With 50–60 GW of solar cell capacity expected to be added in India this year, the company believes entering wafer manufacturing now offers a more practical and timely growth path.
The move also aligns with policy developments from India’s Ministry of New and Renewable Energy (MNRE), which has proposed bringing solar wafers under the Approved List of Models and Manufacturers (ALMM) starting June 1, 2028, subject to India achieving around 15 GW of cumulative domestic capacity. Currently, India lacks a strong domestic ecosystem for large-scale production of polysilicon, ingots, and wafers, creating room for new entrants.
Alongside this upstream expansion, SWELECT continues to strengthen its core solar module business and plans to scale module manufacturing capacity to 2 GW. The company expects rising demand from rooftop solar installations, particularly across northern states such as Bihar, Uttar Pradesh, Haryana, and Rajasthan, where distribution networks have recently been expanded.
SWELECT has also entered the Battery Energy Storage Systems (BESS) segment with solutions for residential as well as commercial and industrial applications. The company plans to introduce additional hybrid and storage products in the coming months while progressing toward its 1 GW Independent Power Producer (IPP) target. However, forex volatility and supply chain disruptions linked to geopolitical tensions and petrochemical shortages continue to pose operational challenges.
