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Celloraa Energy has appointed Anil Bhadauria as its Chief Executive Officer (CEO) as the company advances the development of its 1.2 GW N-type TOPCon solar cell manufacturing facility.
In an announcement, the company said Bhadauria’s appointment marks an important milestone in its journey .
With over 34 years of experience in manufacturing excellence, business growth, large-scale capital projects, supply chain transformation, and environmental, social, and governance (ESG), Bhadauria brings industry expertise to Celloraa Energy.
The latest leadership appointment builds on Starlineps Enterprises’ investment of Rs. 160 crore in Celloraa Energy to acquire a 50% stake in the company and support its solar cell manufacturing operations.
Celloraa Energy is establishing a 1.2 GW solar cell manufacturing facility equipped with German technology and sustainable, water-efficient manufacturing processes. As part of its long-term growth strategy, the company plans to expand its solar cell manufacturing capacity to 2.4 GW.
As the company advances the development of its 1.2 GW N-type TOPCon solar cell manufacturing facility in Surat, Gujarat, Bhadauria’s leadership is expected to play a key role in strengthening operational readiness, manufacturing capabilities, and the company’s commitment to delivering high-quality, Made-in-India solar cell technology.
The proposed acquisition by Starlineps Enterprises is expected to be completed within the next 12 months, subject to the relevant regulatory approvals required under applicable laws.
The investment will be made through the subscription to new equity shares of the target entity, with the subscription amount payable in cash.
The acquisition will be carried out at Rs. 64,000 per share, aggregating to Rs. 160 crore across all tranches. Starlineps Enterprises will acquire 25,000 equity shares with a face value of Rs. 10 each, representing a 50% stake in the target entity’s aggregate paid-up share capital on a fully diluted basis. The acquisition will be completed in one or more tranches.
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