Solar power company bags new order worth Rs 113 crore from Jodhpur Vidyut Vitran Nigam Limited (JDVVNL)

Insolation Energy Limited's subsidiary companies, Insolation Green Infra Private Limited, MGVI Green Infra One Private Limited, and MGVI Green Infra Two Private Limited, have won a significant order from Jodhpur Vidyut Vitran Nigam Limited (JDVVNL) under the PM-KUSUM Component A Scheme. The contract, valued at approximately Rs 113 crore, involves the complete lifecycle of 34 MW grid-connected solar power plants across 17 sites. The subsidiaries will be responsible for the design, survey, supply, installation, testing, and commissioning of these plants, as well as the associated 11 KV lines and a remote monitoring system.

Furthermore, the companies will handle the comprehensive operation and maintenance (O&M) for a period of 25 years from the date of commissioning. The solar plants are expected to be executed within the 2026-27 financial year. The agreement includes varying levelized tariffs per unit, ranging from Rs 2.65 to Rs 3.02, which are projected to generate an annual revenue of over Rs 14.74 crore. This project reinforces Insolation Energy's role in the domestic renewable energy sector, contributing to India's clean energy goals.

Incorporated in 2015, Insolation Energy Ltd specialises in manufacturing high-efficiency solar panels and modules, operating a 200 MW SPV Module manufacturing unit in Jaipur, which spans over 60,000 sq. ft. and is equipped with advanced machinery. Notably, the company holds the position of the second-largest North Indian manufacturer of solar panels, batteries, and inverters, based in Jaipur, Rajasthan.

On Tuesday, shares of Insolation Energy Ltd gained 1.7 per cent to Rs 197 per share from its previous closing of Rs 267 per share. The stock gave multibagger returns of 380 per cent in 2 years.

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