I am studying Websol Energy System Ltd. The company makes solar cells and is increasing its capacity by 7 times (from the current 250 MW to 1.8 GW) while upgrading its solar cell tech from multi-crystalline technology to Mono PERC and TOPCon. As per the annual report, 1200 MW capacity would come live by end of this year.
The company decided to take voluntary losses in Q1 by scraping the existing technology and replacing the legacy equipment with cutting-edge alternatives. The losses would continue for another quarter or so. Expected sharp rebound in 2023-24.
Not sure if it is part of the above capacity expansion plan but early this month, Websol announced JV with AMP Energy India, part of Amp Energy Group for 1.2GW capacity of solar cell manufacturing.
Disclaimer: Studying it and would appreciate any further thoughts. The company thread isn’t very active.
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