The board of directors of SWELECT Energy Systems Ltd has approved the company’s proposal of incorporating a subsidiary that will undertake solar power business.
In a communication, Swelect Energy Systems said that the company’s board has approved the proposal on June 14, 2021, and the wholly-owned subsidiary “SWELECT Renewable Energy Private Limited” will be registered with the Registrar of Companies by June 28, 2021.
The new company will set up a solar power plant in Tamil Nadu and supply electricity to industrial consumers in and around the southern state. The proposed solar photovoltaic plant, whose capacity has not been indicated, will be set up on captive use basis, and the electricity supply will be made through the Intra State Open Access System.
SWELECT Energy further said that key approvals needed for the proposed power plant would be from Tamil Nadu Generation & Distribution Corporation Ltd (Tangedco, the state power utility) and Chief Electrical Inspectorate General (CEIG), Government of Tamil Nadu.
SWELECT Energy Systems Ltd was formerly known as Numeric Power Systems Ltd. The company changed its name in 2018 after selling its UPS business (under the brand Numeric) to the Legrand Group.
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