INA Solar Receives USD 2.5 Million Subsidised Funding from EARF

Insolation Energy Ltd. (INA Solar) receives USD 2.5 million subsidised funding from the Energy Access Relief Fund (EARF). Supported by the World Bank, IFC, BII, DFC, FMO and others, and managed by Social Investment Managers and Advisors (SIMA), USA, EARF has provided loan approvals to 119 companies in 22 countries.

Named among the ten best solar companies in India, INA Solar happens to be the first solar panel manufacturing company from Rajasthan to be listed on the BSE SME. INA Solar Chairman Manish Gupta thanked the SIMA team and said that the funding has been provided at an opportune moment. 

 “As India recently set an ambitious renewable energy target of 500GW by 2030, INA Solar will do its small part in contributing towards building a greener nation,” said Gupta.

In the next few years, the company is planning to expand its solar panel manufacturing capacity to 1.2 GW and solar cell manufacturing to 500 MW.

Solar panels, batteries and inverters are manufactured in the company's Insolation Energy Ltd. located at Daulatpura Toll Tax Delhi Road and Insolation Green Energy Pvt. Ltd. (100 percent owned subsidiary company) factory located at Jatawali Industrial Area. 

The combined manufacturing capacity of both units of the company is 700 MW annually.

All the products in the factory are manufactured under the supervision of experienced engineers with fully automated and latest M10 and G 12 technology and are recognised by National and International Standards BIS/ALMM. 

Established in 2017, the company the products under the brand name ‘INA’. It manufactures solar panels ranging from 40Wp to 545Wp, solar batteries from 40Ah to 220 Ah and solar PCUs from 440VA to 2500 VA.
 

Talking about the presence of the company, Vikas Jain, Managing Director, INA Solar said, “The products are present in more than 100 districts, and through 400 distributors and dealers network, our products are being delivered to the customers. Also, INA Solar has installed solar on more than 10,000 homes and completed more than 500 commercial projects.” 

“Founded by two first-generation entrepreneurs, INA Solar has a good track record with a focus on quality and excellence. As the Aatmanirbhar Bharat initiative has geared up domestic manufacturing, we find INA Solar to be in a bright spot to contribute towards energy access goals of not just the company but also of the nation,” said Arivazhagan G D, Partner at SIMA Funds.