Oswal Pumps plans to setup new manufacturing facility in Karnal
Haryana-based Oswal Pumps Limited is planning to develop a 1.2 GW TOPCon-based solar cell manufacturing facility in Karnal. The firm's wholly owned subsidiary, Oswal Solar Energy Private Limited (OESPL), will develop the project with an investment of Rs 4.56 billion.
According to the firm the funding will involve Rs 2.96 billion in debt financing and around Rs 1.60 billion funded through unutilised initial public offering proceeds. The project will secure a reliable supply of domestic content requirement-compliant cells for government-backed solar programmes.
The entire output from the project will be used captively by OSEPL’s in-house solar module manufacturing lines.
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