Websol Energy Systems Ltd receives project funding from IREDA

Websol Energy Systems Limited, a Kolkata-based manufacturer of solar panels and modules, intends to commission a600 MWP Mono PERC bifacial solar cell manufacturing facility and a 550 MWP module manufacturing facility in the foreseeable future. The Company had received a sanctioned credit facility from the Indian Renewable Energy Development Agency (IREDA) to implement the first phase of expansion plan. The sanctioned credit facility from IREDA is in the form of a term loan of Rs 179.20 Crores and company had signed the agreement against financial closure with the Indian Renewable Energy Development Agency Limited.

On 31st May 2023, Websol Energy Systems Limited has created a charge on project assets in favour of Indian Renewable Energy Development Agency Limited to secure the amount of Rs.179.20crore and Charge Identification Number: 100726342 has been assigned.

Pursuant to the same the company has received disbursement of funds for the project as per the borrowing programme.

Shares of Websol Energy System Limited was last trading in BSE at Rs. 90.40 as compared to the previous close of Rs. 90.74. The total number of shares traded during the day was 6955 in over 130 trades.

The stock hit an intraday high of Rs. 91.95 and intraday low of 88.20. The net turnover during the day was Rs. 625848.00.

Source : Equity Bulls

Keywords

WebsolEnergySystem INE855C01015 ProjectFunding IREDA