Insolation Energy has taken a significant step towards expanding its solar power portfolio by incorporating 12 new Special Purpose Vehicles (SPVs) through its subsidiary, Insolation Green Energy Private Limited. This strategic move, announced on September 10, 2025, aims to bolster the company's presence in India's growing renewable energy sector.

New SPVs for Solar Power Plant Development

The newly formed SPVs, each with an authorized share capital of Rs. 1.00 lakh, are designed to set up and operate solar power plants across India. The list of incorporated entities includes:

1. VNPG Green Infra Private Limited
2. JEMP Green Infra Private Limited
3. EVNJ Green Infra Private Limited
4. DGEJ Green Infra Private Limited
5. ENS Green Infra One Private Limited
6. DMGN Green Infra Private Limited
7. PRJG Green Infra Private Limited
8. NSJG Green Infra Private Limited
9. NEPG Green Infra Private Limited
10. MGPG Green Infra One Private Limited
11. MGVJ Green Infra One Private Limited
12. MPNG Green Infra Private Limited

These SPVs will focus on various aspects of solar power plant development, including erection, installation, construction, operation, and maintenance. They will also provide consultancy services for renewable energy power plants and engage in the design, supply, and commissioning of rooftop solar photovoltaic power projects.

Strategic Expansion

The incorporation of these SPVs represents a strategic expansion for Insolation Energy, potentially increasing its capacity to undertake multiple solar projects simultaneously. This move aligns with India's push towards renewable energy and could position the company to capitalize on the growing demand for solar power solutions.

Corporate Governance and Compliance

In line with regulatory requirements, Insolation Energy has made the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has emphasized that these incorporations are not related party transactions for Insolation Energy itself, as the initial subscriptions are made by its wholly-owned subsidiary.

Future Prospects

While the financial impact of these new SPVs is yet to be determined, as they have just been incorporated and are yet to commence operations, the move signals Insolation Energy's commitment to expanding its footprint in the solar energy sector. The company's focus on both ground-mounted and rooftop solar projects through these SPVs could diversify its revenue streams and strengthen its market position.

Potential Market Expansion

Insolation Energy has also initiated steps towards expanding its market presence. The company has announced plans to migrate from the BSE SME platform to the BSE Main Board, subject to shareholder approval. Additionally, it is seeking approval to apply for direct listing on the National Stock Exchange (NSE) Main Board. These moves, if successful, could enhance the company's visibility and liquidity in the stock market.

As Insolation Energy continues to grow its solar power portfolio and explores new market opportunities, investors and industry observers will be keenly watching the company's progress in executing its expansion strategy and the subsequent impact on its financial performance.

Insolation Energy , a prominent player in the solar energy sector, has made significant announcements regarding its listing status, insider trading disclosures, and strategic expansion through new subsidiaries.

Proposed Migration to Main Boards

Insolation Energy Limited has issued a postal ballot notice seeking shareholder approval for two key proposals:

1. Migration of its equity shares from BSE SME platform to BSE main board
2. Simultaneous application for direct listing on NSE main board

The company's shares have been listed on the BSE SME platform since October 10, 2022. Insolation Energy has a paid-up equity share capital of Rs. 22.03 crore, comprising 22.03 crore equity shares of Re. 1 each.

E-voting for these proposals will be conducted from September 11 to October 10, with the cut-off date set as September 5. Both resolutions require special resolution approval with specific voting requirements under SEBI regulations.

The board believes that migration to main boards will provide enhanced recognition, increased liquidity, wider investor participation, and a stronger brand image for the company.

Insider Trading and Share Acquisition Disclosure

The company has submitted disclosures to BSE concerning insider trading regulations and substantial share acquisition from Vikas Jain HUF, an entity within the promoter group. These disclosures were made in compliance with the Securities and Exchange Board of India (SEBI) regulations for the prohibition of insider trading and substantial acquisition of shares and takeovers. Nitesh Sharma, the Company Secretary, handled the submission on behalf of Insolation Energy.

Incorporation of New Subsidiaries

Insolation Energy has also announced that its wholly-owned subsidiary, Insolation Green Energy Private Limited, has incorporated three new wholly-owned subsidiaries:

1. PED Green Infra One Private Limited
2. JRD Green Infra One Private Limited
3. MVS Green Infra One Private Limited

These new entities were incorporated as special purpose vehicles (SPVs) with the primary objective of setting up solar power plants.

Details of the New Subsidiaries

Each of the newly formed subsidiaries has been incorporated with an authorized share capital of Rs. 1,00,000, divided into 10,000 equity shares of Rs. 10 each. Insolation Green Energy Private Limited has subscribed to 100% of the equity shares in each SPV, maintaining full ownership within the group.

The new subsidiaries will focus on various aspects of solar power plant development, including:

• Erection, installation, establishment, and construction of renewable energy power plants
• Operation and maintenance of solar facilities
• Consultancy services for renewable energy projects
• Design, supply, erection, testing, and commissioning of rooftop solar photovoltaic power projects
• Comprehensive operation and maintenance (O&M) of rooftop solar installations

Strategic Implications

These developments signify Insolation Energy's commitment to expanding its footprint in the solar energy sector and enhancing its market presence. The proposed migration to main boards aims to improve the company's visibility and liquidity, while the creation of dedicated SPVs for solar power plant development positions the company to capitalize on the growing demand for renewable energy solutions in India.

Regulatory Compliance

The company has ensured compliance with SEBI regulations by making timely disclosures regarding the proposed migration, insider trading matters, share acquisition, and the incorporation of new subsidiaries. This transparency is crucial for maintaining investor trust and adhering to regulatory standards in the securities market.

Insolation Energy's proactive approach in expanding its solar energy portfolio and seeking to upgrade its listing status reflects the company's strategic vision and its role in India's renewable energy landscape. As the solar sector continues to grow, these moves could potentially strengthen the company's market position and contribute to the country's clean energy goals.