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Swelect Energy gets nod to invest up to Rs 20.76 crore in USolar Assetco Four
Sep-25-2026

Swelect Energy Systems has secured approval to invest up to Rs 20.76 crore in equity share capital of its wholly owned subsidiary -- USolar Assetco Four. The investment will be used to set up a 26.6 MWp DC solar power plant under Group Captive Scheme. The investment committee of the Board of Directors of the company, at its meeting held on September 24, 2026, has approved the same. On allotment of shares by USolar Assetco Four to Group captive investors, the company’s shareholding in USolar Assetco Four will reduce from 100% to 74% and the status of USolar Assetco Four will change to the subsidiary company from wholly owned subsidiary of the company.

Additionally, the investment committee has approved the acquisition of 100% equity shares of GNU SOLAR ASSETCO TWO (GNU Solar Two), a based in Karnataka, for a consideration of upto Rs 10 lakh. Post this acquisition, GNU Solar Two would become a wholly owned subsidiary of the company and in future, it would set up a solar power plant under Group Captive Scheme.

Swelect Energy Systems (formerly known as Numeric Power Systems) is a leader in delivering high-performance solar, wind, energy storage and power electronic solutions.

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