The deal, struck through INA Solar’s subsidiary Insolation Green Energy Private Limited, pairs Caelux’s proprietary Energy Producing Glass technology with INA Solar’s N-Type TOPCon platform.

The goal is a line of Hybrid-Tandem™ modules. Commercial production is targeting module efficiency of up to 29% by 2028, according to the companies.

The design layers a Perovskite-based power-generating glass over TOPCon solar cells. The companies say the combination should lift energy generation, increase energy density and bring down the levelized cost of electricity (LCOE).

Before any of that reaches market, the two firms will work on technology validation, manufacturing readiness and the necessary regulatory approvals. That includes ALMM requirements.

What the executives said

“This collaboration marks an important milestone for INA Solar,” said Manish Gupta, Chairman of Insolation Energy Limited. “By combining advanced Perovskite technology with our TOPCon manufacturing capabilities, we aim to accelerate the development of highefficiency solar modules and contribute to India’s renewable energy ambitions.”

Vikas Jain, Managing Director of Insolation Energy, said the partnership “strengthens our focus on building an integrated solar manufacturing ecosystem.” He added: “We remain committed to innovation, advanced technology and delivering high-performance solar solutions.”

For Caelux, the agreement is also a scale story. “Our partnership with INA Solar is an important step towards bringing next-generation solar technology into commercial production at scale in India,” said Scott Graybeal, the company’s CEO. “With this agreement, Caelux’s global contracted volume with module manufacturers exceeds 25 GW validating Caelux’s technology and market approach.”

Vish Iyer, Managing Director for India and West Asia at Caelux, said that “integrating Energy Producing Glass with TOPCon technology represents a significant step towards the Indian market benefiting from ultra-high power density solar modules.”

About the companies

INA Solar runs three module manufacturing facilities in Jaipur, Rajasthan, with a combined annual capacity of 5.5 GW. In Narmadapuram, Madhya Pradesh, it is developing a 4.5 GW TOPCon solar cell facility and an 18,000 MTA aluminium frame plant.

Its portfolio covers TOPCon and Mono PERC modules from 500 Wp to 635 Wp, plus EPC services. The company also holds an Independent Power Producer (IPP) portfolio of roughly 400 MW.

Founded in 2015 and headquartered in Jaipur, Insolation Energy is listed on the NSE and BSE. It says it has a presence across more than 250 districts, serves over 40,000 customers and works with 1,000+ channel partners.

Caelux, based in Baldwin Park, California, describes itself as a global leader in Perovskite solar technology. Its Energy Producing Glass turns the top glass of a solar module into an additional power-generating layer, which the company says increases power density and improves project economics.

Investors reacted fast. INA Solar's stock surged nearly 15% on the news, climbing to ₹124 from Tuesday's ₹110 close. By the time of this report, gains had cooled somewhat, with the stock trading up 9% at around ₹118.

The order lands at a pivotal moment for the company. INA Solar has been under pressure in recent months as it works to stand up its own cell manufacturing operations — a buildout complicated by the ALMM regime, which kicked in on June 1 this year. The company is building a 4.5 GW cell manufacturing facility in Narmadapuram, Madhya Pradesh. Progress there is "satisfactory," according to the firm's most recent update, delivered during its May analyst call. Management remains hopeful of bringing the plant online by December. Still, uncertainty over future cell supply has weighed on the stock in recent weeks.

INA Solar hasn't disclosed the specific technical requirements attached to the NTPC order. But there's a strong case that this batch involves non-DCR modules. NTPC holds one of the largest pipelines of pre-August 2025 solar projects in the country — projects that are exempt from Domestic Content Requirement rules, which mandate the use of domestically manufactured solar cells.

The order also comes against the backdrop of a strong financial year. INA Solar closed FY26 with revenue of ₹2,146 crore, up 61% year-on-year, while profit after tax rose 59% to ₹201 crore. With a healthy cash position and manageable net debt, the company has emerged as one of the standout performers among India's solar manufacturers over the past two years, cementing its place in the sector's top tier.

The 82-kilowatt solar array can produce enough electricity to cover the center's full annual energy demand. That means Los Angeles now operates off-grid, drawing on clean power alone rather than pulling from the utility grid.

The numbers behind the switch are notable. Aggreko expects the installation to save roughly $12,630 a year in utility costs. Over the system's projected 20-year lifespan, the company anticipates offsetting 1,968 tons of carbon emissions — a substantial dent for a single facility.

"The solar installation at our Los Angeles service center is our most exciting yet, as for the first time, 100% of the annual energy needs of one of our service centers will be met by renewable energy," said Todd Aston, Aggreko's VP of Sustainability for North America. "With on-site solar like the system at our Los Angeles service center and several others, we can meet the energy needs of our customers while lowering our costs and carbon emissions."

Aston added that projects like this one reflect the company's broader push into engineered power solutions — and a commitment that, he said, mirrors the passion customers bring to their own projects.

This isn't Aggreko's first move toward distributed clean energy. Earlier this year, the company completed solar installations at its St. Louis, Missouri, and Bridgeport, New Jersey, facilities. Last year, it added solar panels at its New Orleans location. Four other sites — including Aggreko's U.S. headquarters — have already shifted to biofuel for internal energy needs.

Los Angeles represents the furthest step yet in that pattern: full energy independence at the facility level, not just a partial offset.

Aggreko says more service centers will follow as the sustainability rollout continues. Details on upcoming projects are tracked on the company's sustainability website.

About Aggreko

Aggreko is a global engineered energy and temperature solutions provider, founded in 1962 and headquartered in the UK. The company employs more than 6,900 people and operates in over 70 countries, serving industries that range from emergency power response to long-term energy infrastructure.