Solar panels company secures new order worth Rs 18,77,73,002 from NTPC Vidyut Vyapar Nigam Ltd

Solarium Green Energy Ltd (SGEL) has secured significant Notification of Awards (NOAs) for Rooftop Solar PV Projects, totalling approximately Rs 18.78 crore and an aggregate capacity of 5,996 kW across several states. The largest award is for a 5,546-kW project at GAIL-Raigad, Maharashtra, valued at roughly Rs 17.44 crore, which was granted by NTPC Vidyut Vyapar Nigam Limited (NVVN), under their rate contract tender for projects above 1000 kW. The remaining capacity is distributed across smaller projects (51–200 kW category) at other GAIL sites in Gujarat, Uttar Pradesh (Auraiya and Varanasi), and Odisha (Jajpur and Sundergarh).

The total approximate award value of Rs 18,77,73,002 is broken down into three main categories: a Supply Contract for equipment (approx. Rs 14.59 crore), a Service Contract for installation and civil works (approx. Rs 2.29 crore), and a 5-year O&M Contract (approx. Rs 1.90 crore), though the O&M contract for the GAIL-Varanasi project is pending. The contract stipulates a completion time of 180 days for the major GAIL-Raigad project and 90 to 120 days for the smaller sites. These NOAs fall under a single Rate Contract for EPC of Grid Connected Rooftop Solar PV Projects at GAIL locations, substantially boosting SGEL's presence in India's rooftop solar sector.

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About the Company

Solarium Green Energy Ltd (SGEL), established in 2018, operates as a comprehensive solar energy provider, delivering turnkey solutions that encompass the entire lifecycle of solar power plants, from design and procurement to construction, commissioning, and ongoing operation and maintenance (O&M). Catering to a diverse clientele spanning residential, commercial, industrial, and governmental sectors, SGEL also distributes essential solar components such as PV modules, inverters, and meters, all while adhering to stringent quality and safety standards as evidenced by their BIS and ISO certifications (9001, 14001, 45001). Beyond installation, SGEL manages critical logistical and financial aspects and offers O&M services like panel cleaning, repairs, and system inspections for both public and private entities.

The company has a market cap of over Rs 700 crore. The shares of the company have a PE of 45x, an ROE of 23 per cent and an ROCE of 20 per cent. The stock is up by 68.3 per cent from its 52-week low of Rs 202 per share.

Disclaimer: The article is for informational purposes only and not investment advice.