Indosolar looks to restructure debt as profits feel the pinch

Facebook
Twitter
LinkedIn
Reddit
Email

Indian PV manufacturer Indosolar has asked to have its debt restructured because it says low equipment prices mean it is unable to make a profit.

In a stock exchange filing last week, the Indian company said one of its plants, a 160MW plant in Greater Noida, Uttar Pradesh, had been idled because the high cost of production against the low prices for PV cells “did not yield margins”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Due to continued liquidity issues the company has approached bankers for a second corporate debt restructuring package,” the New Delhi-based company said, adding that its short-term liabilities exceed short-term assets by 1.9 billion rupees (US$31 million).

This is the second time Indosolar has asked to have its debt restructured; in January 2012 the company was granted approval to restructure around US$31 million of its debt.

Indosolar is one of a number of India-based PV manufacturers pressing for duties to be imposed on PV equipment imported from abroad, claiming competitors from countries such as the US and China are dumping products into India’s market.

Read Next

October 3, 2025
Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
October 3, 2025
EDF Renewables and Enlight Renewable Energy have advanced solar-plus-storage projects in New Mexico and Arizona.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
The US solar manufacturing industry is feeling bullish, despite the policy whiplash inflicted over the summer and the increased pressure on US solar supply chains.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
Premium
October 2, 2025
Australia's solar sector delivered a strong September performance in the National Electricity Market (NEM) as the country entered spring, with combined solar PV generation reaching 3,933GWh - a 17.83% increase from August's 3,338GWh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland