Indian Renewable Energy Development Agency Limited (IREDA), a New Delhi-based government financial institution has sanctioned an INR 1,134 crore (~ $136 million) loan to Insolation Green Energy, a wholly owned subsidiary engaged in solar manufacturing. As per IREDA, the funding will support the construction of a 4.5 GW solar cell manufacturing unit in the Manufacturing Zone for Power and Renewable Energy located in Narmadapuram district, Madhya Pradesh. The project cost has been estimated at INR 1,512 crore (~ $181 million), with the balance of INR 378 crore (~ $45 million) to be met through internal accruals. Insolation Green Energy has confirmed that the facility is expected to add significant manufacturing capacity in solar cells and modules. The group’s plans also include achieving large-scale module production, solar cell output, aluminium frame manufacturing, and additional ingot and wafer production capacity by 2028.