Insolation Energy Unit Commercialises 600-MW Solar Capacity; Shares At Record High

Shares of Insolation Energy Ltd. hit a record high on Wednesday after its wholly-owned subsidiary commercialised the production of 600 megawatts of solar capacity.

Insolation Green Energy Pvt. will manufacture mono and bifacial half-cut technology solar panels, topcon panels, and mono-perc panels, according to an exchange filing.

The total operating capacity of the company now stands at 750 MW. It plans to add another line in Insolation Green by the end of the year and ramp up capacity to 950 MW.

Shares of Insolation Energy rose as much as 5% during the day to Rs 440.15 apiece. It pared gains to trade 0.67% higher at Rs 422 per share, compared to a 0.80% decline in the benchmark S&P BSE Sensex as of 10:23 a.m.

The stock has risen 307.48% on a year-to-date basis and 428.10% since its listing on Oct. 10, 2022. The relative strength index was at 69.