Jindal Poly Films Acquires Solar Encapsulation Films Manufacturer Enerlite
The transaction is expected to be completed within six months
May 6, 2025
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Jindal Poly Films, a part of BC Jindal Group, has announced that it acquired Enerlite Solar Films, a manufacturer of solar encapsulation films in India.
Enerlite’s shares will be acquired for a mutually agreed lump sum consideration, which has not been disclosed.
Jindal Poly Films holds a 33.05% stake in Enerlite, which will become a wholly owned subsidiary after the transaction. The deal is expected to be completed within six months.
Enerlite reported an audited turnover of ₹280 million (~$3.3 million) as of March 31, 2025. The company manufactures solar encapsulation films used in the construction of photovoltaic modules. Enerlite’s 7-acre manufacturing plant is located in Nashik, Maharashtra. The project’s overall annual production capacity is 700 MW.
Per Jindal Poly Films’ 50th Annual Report 2023-2024, the company invested ₹200 million (~$2.3 million) in a solar power project for captive consumption by establishing a special purpose vehicle called AMPYR Renewable Energy Resources Twelve A.
The company plans to install 2.1 MW rooftop solar systems and source the remaining energy from solar parks to reduce greenhouse gas emissions.
Jindal SMI, a subsidiary focused on labeling solutions, integrated a solar system at its Ambernath MIDC Plant to counterbalance 25% of its energy consumption.
In January this year, Jindal India Renewable Energy, a part of BC Jindal Group, won NHPC’s auction to set up 1,200 MW inter-state transmission system-connected solar power projects with 600 MW/1,200 MWh energy storage systems. Onix Renewable, NTPC Renewable Energy, Kolar Solar Power (Rays Power Infra), ReNew Solar Power, and Adani Renewable Energy Holding Nine (Adani Green) were also among the winners.
Last year, the Directorate General of Trade Remedies recommended the extension of anti-dumping duty on the imports of Ethylene Vinyl Acetate (EVA) backsheets originating in or exported from China for five years. EVA backsheet is a polymer-based component used in the manufacturing of solar modules for the encapsulation of solar cells.