The Board of Directors of Websol Energy System has approved a phased expansion plan of its manufacturing capacity by total of 4 GW of solar cells and 4 GW of solar modules through a wholly owned subsidiary. This expansion plan will result in a total investment of approximately Rs. 3,000 crore.

The capacity expansion plan builds on the Company¡¦s existing capacity (Phase I) of a 600 MW solar cell line and 550 MW solar module line at Falta, West Bengal. The solar cell line is operating at an effective capacity utilisation of 90%. Both these lines were funded through a combination of internal accruals, preferential issue of equity shares and lending facilities from financial institutions. An additional 600 MW solar cell line (Phase Il), co-located at Falta, is scheduled to become operational in October 2025. This line has been funded completely through internal accruals and will take Websol¡¦s total solar cell manufacturing capacity to 1.2 GW.

As part of the Company¡¦s overall strategy, the Board of Directors has now approved plans to significantly scale up its manufacturing platform in response to the rapidly increasing demand for solar power in India. The additional solar cell capacity will be based on Topcon technology. The expansion will be executed in two phases:

• Phase III: Addition of 2 GW solar cell line and 2 GW solar module line by June 2027 „h
• Phase IV: Addition of 2 GW solar cell line and 2 GW solar module line by June 2028

The total investment for Phase III and Phase IV will be financed through a combination of internal accruals and lending facilities from financial institutions.