Solar Panels Company Secures Rs 8.22 Crore Rooftop Solar Projects from NTPC Vidyut Vyapar Nigam

Solarium Green Energy Limited has announced that it has bagged three rooftop solar work orders worth over Rs 8.22 crore from NTPC Vidyut Vyapar Nigam Limited (NVVN). These projects fall under NVVN’s tender process for “Selection & Discovery of L1 Rates for Rate Contract for EPC of Grid Connected Rooftop Solar PV Projects (201–1000 kW) across India”.

The company, led by Chairman and Managing Director Ankit Garg, stated that the projects are expected to expand its customer base and enhance long-term profitability. The new orders add to Solarium’s project pipeline, supporting its positioning in the renewable energy sector where Small-Cap companies often gain traction with government contracts and long-term service agreements.

The first project involves a 1000 kW rooftop solar plant at DRDO Chennai, valued at approximately Rs 3.48 crore. It covers supply of equipment, installation, civil works, safety provisions, and a 10-year comprehensive Operation and Maintenance (O&M) service worth Rs 63.62 lakh. The project has a completion timeline of 120 days.

The second order is for an 860 kW rooftop solar project at DRDO Visakhapatnam, valued at Rs 2.99 crore. This includes equipment supply worth Rs 2.14 crore, civil and allied works, and O&M services worth Rs 54.72 lakh for 10 years. Facilities are scheduled to be completed within 120 days.

The third project is a 505 kW rooftop solar plant at DRDO Chandipur, valued at Rs 1.76 crore. The scope covers supply, installation, allied works, and a 10-year O&M service worth Rs 32.13 lakh. Completion is required within 120 days from the Notice of Award.

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.

On Thursday, shares of Solarium Green Energy Limited slipped 0.8 per cent to Rs 374 per share from its previous closing of Rs 377 per share. The company has a market cap of Rs 780 crore. The shares of the company have a PE of 41.8x, an ROE of 23 per cent and an ROCE of 20 per cent. The stock is up by 85 per cent from its 52-week low of Rs 202 per share.

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