https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

IREDA Approves ₹1,134 Crore Loan to Insolation Green Energy for 4.5 GW Solar Cell Manufacturing Plant in Madhya Pradesh

Strategic investment to boost domestic solar manufacturing and support Atmanirbhar Bharat initiative
Indian Masterminds Stories

Jaipur: In a significant boost to India’s renewable energy manufacturing sector, the Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of ₹1,134 crore to Insolation Green Energy Private Limited, a wholly owned subsidiary of Insolation Energy Ltd. The sanctioned funds will finance a state-of-the-art 4.5 GW solar cell manufacturing facility to be established in Narmadapuram district, Madhya Pradesh.

Project Overview: Major Step Toward Manufacturing Self-Reliance

The upcoming facility will be located at Plot No-P-4, Manufacturing Zone for Power and Renewable, Mohasa Babai, Makhan Nagar, Narmadapuram – 461661, Madhya Pradesh. The total estimated project cost stands at ₹1,512 crore, with ₹1,134 crore being funded through the IREDA loan, and the remaining ₹378 crore to be financed via internal accruals of the company.

This investment reflects Insolation Green Energy’s strategic move to become a vertically integrated solar energy company. The facility is designed to manufacture high-efficiency solar cells, and forms a crucial part of the company’s backward integration strategy, aiming to secure control over core components in the solar production value chain.

Read also: ICSE 2025: IREDA CMD Highlights Green Skilling and Innovation as Pillars of India’s Renewable Energy Growth

Future Plans: 3 GW Ingot and Wafer Facility by 2028

Building on the momentum of this project, the company has revealed plans to further expand its manufacturing capabilities. By 2028, Insolation Green Energy intends to establish a 3 GW ingot and wafer manufacturing unit, thereby enabling the company to produce solar products from the raw material stage to finished modules entirely in-house.

This forward-thinking strategy not only enhances quality control and cost efficiency but also strengthens India’s efforts to reduce dependence on imported solar equipment, particularly from countries like China.

Support for Government Initiatives and Green Energy Goals

This development is well aligned with the Government of India’s “Make in India”, Production Linked Incentive (PLI) scheme, and Atmanirbhar Bharat initiative, which emphasize self-reliance in high-tech manufacturing sectors, especially clean energy.

IREDA’s financial support underscores the government’s commitment to fostering a robust domestic renewable energy industry. The project is expected to contribute significantly to achieving India’s target of 500 GW of non-fossil fuel energy capacity by 2030, as outlined in its climate action commitments under the Paris Agreement.

Local Economic Impact: Employment and Infrastructure Development

Apart from its environmental benefits, the manufacturing facility is poised to deliver significant economic value to the region. The project is expected to generate direct and indirect employment opportunities, both during the construction phase and once commercial operations begin. It will also contribute to the development of associated infrastructure and support industries in and around the Narmadapuram district.

A Strategic Milestone for Insolation Energy

Speaking on the development, the company reiterated its commitment to sustainable manufacturing and energy independence. The 4.5 GW solar cell plant is not only a step toward backward integration but also a signal of Insolation Energy’s long-term vision to become a major player in the global solar supply chain.

With rising global demand for renewable energy, such integrated projects are expected to position Indian manufacturers competitively in both domestic and international markets.

Conclusion

The IREDA’s sanctioning of this substantial loan marks a major milestone for both Insolation Green Energy and India’s broader renewable energy sector. It represents a powerful confluence of policy support, industrial ambition, and environmental responsibility—key ingredients for building a sustainable energy future.

About IREDA

Indian Renewable Energy Development Agency Ltd. (IREDA) is a Mini-Ratna (Category – I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). It plays a crucial role in financing and promoting renewable energy and energy efficiency projects across India.

Read also: IREDA Secures ₹453 Crore Through Perpetual Bonds, Strengthening Capital for Renewable Energy Projects


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
CANSSEA
Nagaland Govt Employees Protest Non-SCS IAS Induction, Demand Meritocracy and Transparency in Recruitment
CM Yogi Adityanath
UP: Yogi Adityanath Targets Mafia Raj in Bihar, Promises Development and Security Ahead of Elections
Yogi Adityanath sugarcane revolution
Eight Years, 122 Mills, ₹2.9 Lakh Crore Paid: Yogi’s Sugarcane Revolution Explained — Here’s What Changed
mohan yadav
Madhya Pradesh Pioneers PPP-Mode Medical Colleges: Chief Minister Dr Mohan Yadav Leads Healthcare Expansion
Pushkar Singh Dhami CM
Uttarakhand’s New Development Rules: Ground-Level Survey to Replace Aerial Distance for Construction Approval
CM Nitish Kumar
Nitish Kumar’s Unique Path to Power: Bihar’s Chief Minister Who Chose Governance Over Elections
Naval Bravery Museum Lucknow
CM Yogi Adityanath Fast-Tracks Construction of 'Naval Bravery Museum' in Lucknow to Honor Indian Navy's Legacy
Vishnu Deo Sai CM
From Gun Barrels to Growth: 51 Maoists Surrender in Bastar Under CM Vishnu Deo Sai’s Rehabilitation and Peace Policy
ADVERTISEMENT
ADVERTISEMENT
Videos
Former IAS Anil Swarup
Former IAS Anil Swarup Reveals His Secrets of Success
IAS Gokul S
Meet IAS Gokul S — The Officer Who Turned Disability into Determination | Video Interview 
WhatsApp Image 2025-10-23 at 10.40
Everybody Needs To Know What Is Transpiring Behind Closed Doors Of Courts
ADVERTISEMENT
UPSC Stories
IAS Gokul S
Meet IAS Gokul S — The Officer Who Turned Disability into Determination | Video Interview 
Visually impaired IAS officer Gokul S turned his challenges into change, empowering hundreds through...
Parmeshwar Chaudhary RAS
From Taunts to Triumph: How Farmer’s Son Parmeshwar Chaudhary Rose from Lab Assistant to SDM, Securing Rank 3 in RAS 2023
Parmeshwar, once taunted over his SI selection, has scripted a stunning success—securing Rank 3 in RAS...
IAS Rupal Rana UPSC
How Rupal Rana Cracked UPSC CSE 2023 with AIR 26 After Four Attempts
UPSC Topper Rupal Rana secured AIR 26 in 2023 after four attempts. Learn her preparation strategy, booklist,...
Social Media
Tenzin Yangki IPS Arunachal
Historic First: Who Is Tenzin Yangki, Arunachal Pradesh’s First Woman to Join IPS? Anand Mahindra Hails Her
She secured an impressive 545th rank in the prestigious UPSC Civil Services Examination - 2022.
IFS Parveen Kaswan
Heartbreak by the River: 15-Day-Old Elephant Calf Rejected by Mother, Rescued by IFS Parveen Kaswan and His Team
Jaldapra, West Bengal: In a moving incident that tugs at the heart, a 15-day-old elephant calf was rescued...
Ashwini Bhide IAS and Anand Mahindra
Who Is IAS Ashwini Bhide, Hailed as a Role Model for Mumbai Metro Transformation by Anand Mahindra?
From heritage to high-tech: Bhide’s leadership in Metro Line 3 earns public praise and admiration
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
CANSSEA
Nagaland Govt Employees Protest Non-SCS IAS Induction, Demand Meritocracy and Transparency in Recruitment
CM Yogi Adityanath
UP: Yogi Adityanath Targets Mafia Raj in Bihar, Promises Development and Security Ahead of Elections
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Former IAS Anil Swarup
IAS Gokul S
WhatsApp Image 2025-10-23 at 10.40
ADVERTISEMENT
ADVERTISEMENT