AHAsolar Technologies Limited has secured a substantial consultancy service contract worth ₹71.73 lacs from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The work order, announced on March 14, 2026, involves preparation of detailed project reports for Solar PV Projects in Sikkim, marking a significant business milestone for the renewable energy company.

Contract Details and Scope

The consultancy engagement focuses on detailed project report preparation for solar photovoltaic installations in Sikkim. The comprehensive service contract encompasses technical assessment, feasibility studies, and project documentation required for solar energy infrastructure development in the northeastern state.

Project Specifications

The work order represents a domestic project awarded by an international entity, combining global expertise with local renewable energy development. GIZ GmbH, known for international cooperation and sustainable development initiatives, has entrusted AHAsolar Technologies with this critical consultancy assignment.

Key project characteristics include:

• Service Nature: Detailed project report preparation
• Technology Focus: Solar PV systems
• Geographic Scope: Sikkim state
• Contract Duration: 12-month execution period
• Engagement Type: Pure consultancy services

Corporate Governance and Compliance

The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparent disclosure to stakeholders. The company confirmed no promoter group interest in the awarding entity and classified the engagement as arms-length transaction.

Strategic Significance

This consultancy contract demonstrates AHAsolar Technologies' technical capabilities in solar project development and positions the company as a trusted partner for international organizations in India's renewable energy sector. The engagement with GIZ GmbH, a prominent German development cooperation agency, validates the company's expertise in solar photovoltaic project planning and implementation.

The 12-month timeline provides structured revenue visibility while allowing comprehensive project assessment and documentation for Sikkim's solar energy infrastructure development.

Ahasolar Technologies Limited has announced the appointment of Mr. Dinesh Shah as Additional Director (Non-Executive & Independent) effective March 5, 2026. The decision was approved during a board meeting held on the same date, addressing a vacancy in the company's leadership structure caused by the death of Mr. Ashok Patel.

Board Meeting Outcome

The board meeting was conducted on March 5, 2026, from 11:00 a.m. to 12:30 p.m. IST. The primary agenda item was the appointment of the new director, along with other routine business matters as per the circulated agenda. The company has communicated this development to BSE Limited under scrip code 543941.

New Director Profile

Mr. Dinesh Shah (DIN: 02325648) brings significant expertise to the board as a seasoned financial professional. The 66-year-old Chartered Accountant possesses over 40 years of extensive experience across multiple domains including business strategy, fund raising, investor relations management, forex management, and taxation.

Professional Background

As a seasoned financial expert, Mr. Shah has held senior leadership roles in listed companies throughout his career. His proven expertise encompasses financial planning and analysis, fund raising initiatives, mergers and acquisitions (M&A), internal controls implementation, and risk mitigation strategies.

Appointment Context

The appointment addresses a vacancy in the board structure caused by the death of Mr. Ashok Patel. This strategic addition ensures continuity in the company's governance framework while bringing fresh expertise to guide future business decisions.

Regulatory Compliance

The appointment was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled all disclosure requirements as mandated by SEBI circulars, including SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, SEBI Master circular no. SEBI/HO/CFD/CFD-PoD-1/P/CFR/2023/123 dated July 13, 2023, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The addition of Mr. Shah to the board represents a strategic move to strengthen the company's leadership team with his extensive financial and strategic expertise, particularly in areas critical to the company's growth and governance objectives.