en.Wedoany.com Reported - Starlineps Enterprises Limited has announced an investment of INR 1.6 billion in Celloraa Energy Private Limited to acquire a 50% stake in the latter's post-increase paid-up equity capital, with the funds raised to be used to support solar cell manufacturing operations.
According to regulatory filings submitted by Starlineps Enterprises Limited, Celloraa Energy Private Limited is currently constructing a solar cell manufacturing plant with a capacity of 1.2 gigawatts (GW), utilizing advanced German technology and sustainable, water-efficient manufacturing processes. As part of its long-term growth strategy, Celloraa plans to further expand its solar cell manufacturing capacity to 2.4 GW.
Subject to the satisfaction of customary conditions precedent, the proposed acquisition is expected to be completed within the next 12 months and will require relevant regulatory approvals (if any) under applicable laws, as well as approval from the company's shareholders. The investment will be made in cash to subscribe to newly issued equity shares of Celloraa at a purchase price of INR 64,000 per share, totaling INR 1.6 billion across multiple tranches. Starlineps will subscribe to 25,000 shares with a face value of INR 10 each, representing 50% of Celloraa's fully diluted total paid-up equity capital, with the transaction to be completed in tranches.
Recent trends indicate an accelerated adoption of German technology in the solar cell manufacturing sector. For instance, German solar equipment manufacturer RENA Technologies has received an order from Emmvee Energy in Bangalore, India, to supply high-throughput production equipment for a 6 GW TOPCon (Tunnel Oxide Passivated Contact) solar cell manufacturing capacity in India. This order is one of the largest equipment deals in India's domestic solar manufacturing sector. By choosing a non-Chinese supplier, Emmvee has prioritized supply chain predictability over cost. The project will deploy production solutions tailored for TOPCon solar cell technology, one of the most advanced and efficient crystalline silicon cell architectures currently in commercial application.
India's Premier Energies has also established a technology partnership with Germany's RENA Technologies GmbH, focusing on process innovations for N-type solar cells and the development of wet chemical processes for next-generation tandem solar cell technologies. This collaboration combines Premier Energies' large-scale manufacturing capabilities with RENA Technologies GmbH's expertise and equipment solutions in wet chemical processes, with both parties jointly committed to enhancing cell performance, improving production yields, and promoting more sustainable manufacturing processes, driving advancements in the field of high-efficiency solar cell manufacturing.
