Raana Semiconductors signs pre-purchase order to supply ingot machines to Swelect Energy

GreyOak summary

Raana Semiconductors signed a pre-purchase agreement to supply 12-inch CZ systems to Swelect Energy's subsidiary for a planned 1GW ingot facility. This move aims to reduce import dependence in India's solar sector, especially as China restricts exports. Raana expects to launch commercial machines within 10-12 months, while the MNRE plans to enforce local sourcing via ALMM from June 2028.