Insolation Energy Limited has announced significant expansions in its solar energy business through its wholly-owned subsidiary, Insolation Green Energy Private Limited. The company has incorporated multiple Special Purpose Vehicles (SPVs) for solar power plant development and secured a substantial contract under the PMKUSUM Component A Scheme.

New Solar Power SPVs

Insolation Green Energy Private Limited, a wholly owned subsidiary of Insolation Energy Limited, has incorporated five new wholly-owned subsidiaries on September 15. The new entities are:

• VJMG Green Infra One Private Limited
• DEGP Green Infra Private Limited
• MJEV Green Infra Private Limited
• EGPN Green Infra Private Limited
• PHDJ Green Infra Private Limited

Each subsidiary was established as a special purpose vehicle for setting up solar power plants with an authorized share capital of Rs. 1,00,000 divided into 10,000 equity shares of Rs. 10 each.

The primary objectives of these SPVs include:

• Solar power plant development, erection, installation, and construction
• Operation and maintenance of solar power facilities
• Consultancy services for renewable energy power plants
• Design, supply, testing, and commissioning of rooftop solar photovoltaic power projects

The companies are yet to commence business operations.

Major Contract Award under PMKUSUM Scheme

Insolation Green Energy Private Limited has been awarded Letters of Intent (LOIs) for a total of 226.45 MW of solar power plants under the PMKUSUM Component A Scheme. The contracts were awarded by Jaipur Vidyut Vitran Nigam Limited (JVVNL) and Ajmer Vidyut Vitran Nigam Limited (AVVNL).

Key details of the contract include:

• 20 sites from JVVNL and 115 sites from AVVNL
• Design, survey, supply, installation, testing, and commissioning of grid-connected solar power plants
• Operation and maintenance for 25 years from the Commercial Operation Date (COD)
• Installation of associated 11 KV lines and remote monitoring systems

The project involves a substantial investment of approximately Rs. 750.00 crore (including GST) for setting up the 226.45 MW of solar power capacity.

Financial Impact

The PMKUSUM contract is expected to generate significant revenue for Insolation Energy. Based on the varying tariff rates for different sites, the annual revenue projection is as follows:

The combined annual revenue from these projects is estimated at Rs. 98.47 crore, showcasing the substantial scale of this contract for Insolation Energy.

These developments mark a significant expansion in Insolation Energy's solar power portfolio and underscore the company's growing presence in India's renewable energy sector. The creation of multiple SPVs and the securing of a major contract under the PMKUSUM scheme position the company for continued growth in the solar energy market.

Insolation Energy announced a significant business update for its wholly-owned subsidiary, Insolation Green Energy Private Limited. The company has been awarded Letters of Intent (LOI) for substantial solar power plant projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) Component A Scheme.

Project Details

The contracts, awarded by Jaipur Vidyut Vitran Nigam Limited (JVVNL) and Ajmer Vidyut Vitran Nigam Limited (AVVNL), cover a total of 135 sites across Jaipur and Ajmer regions. The combined capacity of these solar power plants amounts to 226.45 MW.

Scope of Work

The projects encompass a comprehensive range of services, including:

• Design and survey
• Supply and installation
• Testing and commissioning
• Operation and maintenance for 25 years from the date of commissioning

Additionally, the scope includes the installation of associated 11 KV lines to connect the plants with various 33/11 KV sub-stations and the implementation of a remote monitoring system (RMS) for the solar power plants.

Financial Implications

The contract is expected to lead to an investment of approximately Rs. 750.00 crores, including GST, for setting up the 226.45 MW solar power plants. The execution of these projects is planned for the financial year 2026-27.

Tariff Structure

The final levelized tariffs for the projects vary across different sites:

• Rs. 3.04 per unit for 16 sites
• Rs. 2.82 per unit for 5 sites
• Rs. 2.75 per unit for 53 sites
• Rs. 2.60 per unit for 61 sites

Expected Revenue and Power Generation

The projects are anticipated to generate substantial annual revenue and electricity:

The total annual electricity generation is expected to reach 36.23 crore units, with projected annual revenue of Rs. 98.47 crores.

Company Statement

Nitesh Sharma, Company Secretary & Compliance Officer of Insolation Energy Limited, expressed enthusiasm about this development, stating, "We are thrilled to share another significant business update of our Wholly Owned Subsidiary Insolation Green Energy Private Limited."

This contract marks a substantial step for Insolation Energy in the renewable energy sector, contributing to India's solar power capacity and aligning with the government's PM-KUSUM scheme objectives.