Solar power company receives two purchase orders worth Rs 516.05 crore

Insolation Energy Limited announced a significant disclosure under Regulation 30 of the SEBI (LODR) Regulations 2015, confirming that its Wholly Owned Subsidiary (WOS), Insolation Green Energy Private Limited, has secured a substantial sale order totalling Rs 516.05 crore (inclusive of GST). This cumulative order comprises two major components. The larger component is a purchase order aggregating Rs 357 crore (including GST) for the supply of Solar PV Module N Type Topcon awarded by a well-renowned IPP Company (Independent Power Producer). The remaining portion is a set of purchase orders totalling Rs 159.05 crore (inclusive of GST) for the supply of Solar PV Modules to various companies executing projects under the PM KUSUM scheme across different locations in Andhra Pradesh.

These orders, which are purely domestic in nature, pertain to the supply of Solar PV Modules and represent a combined addition of Rs 516.05 crore to the company's revenue. A key term of the contracts is the supply of these modules, and the execution timeline for these significant orders is set to occur within the financial year 2025-27. The successful acquisition of these contracts by Insolation Green Energy Private Limited is a major development for the parent company, Insolation Energy Limited, solidifying its position in the domestic solar energy supply chain, particularly in contributing to large-scale IPP projects and the government's PM KUSUM initiative.

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 Wednesday, shares of Insolation Energy Ltd gained 2.42 per cent to Rs 143.65 per share from its previous closing of Rs 140.25 per share. The shares of the company have a 52-week high of Rs 417.47 per share and a 52-week low of Rs 134.35 per share. The stock is up by 7 per cent from its 52-week low of Rs 134.35 per share and has given multibagger returns of 1,000 per cent in 3 years.

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