SWELECT Energy Systems Limited has scheduled its 31st Annual General Meeting (AGM) for July 31, 2026, to seek shareholder approval for material related party transactions (RPTs) aggregating ₹10,073.8 crore. The board approved the addendum to the AGM notice on July 6, 2026, incorporating resolutions for transactions involving subsidiaries USolar Assetco Four Private Limited and SWELECT SolarKraft Private Limited, as well as Gridnex Solar Power Private Limited.

The meeting will be conducted exclusively through Video Conferencing (VC) or Other Audio Visual Means (OAVM) at 03:30 P.M. IST, with the registered office in Chennai deemed as the venue. Shareholders can participate via remote e-voting through Central Depository Services (India) Limited (CDSL) before or during the meeting. Those attending via VC/OAVM will be counted for quorum under Section 103 of the Companies Act, 2013.

Related Party Transactions

The special business includes three distinct RPT resolutions requiring shareholder consent. The transactions involve the sale of goods or services and the provision of guarantees, as detailed in the explanatory statement.

The Audit Committee has reviewed these proposals based on RPT Industry Standards. The Board of Directors recommends the transactions, noting that pricing and material terms were determined by the CEO & Managing Director and CFO. The approvals are subject to the receipt of necessary shareholder consent at the AGM.

Swelect Energy Systems has commissioned a 4.40 MW solar power plant in Virudhunagar, Tamil Nadu. The facility is structured to deliver electricity to consumers under a third-party power sale model, a commercial arrangement that enables direct power supply to end-users outside the conventional utility distribution framework.

Project Overview

The newly launched solar power plant represents a significant operational development for Swelect Energy Systems in the Tamil Nadu renewable energy landscape. Key details of the project are outlined below:

Third-Party Power Sale Model

The third-party power sale model allows the company to supply solar-generated electricity directly to consumers, bypassing the state distribution utility. This approach enables industrial and commercial consumers to procure renewable energy directly from the generator, offering an alternative to conventional grid-based power procurement. The commissioning of this plant underscores Swelect Energy Systems' continued focus on expanding its solar energy generation capacity in Tamil Nadu.