Ahasolar Technologies has announced securing a consultancy work order valued at ₹1.18 crores from CIL Rajasthan Akshay Urja Limited. The contract encompasses Owner's Engineering and Project Management Consultancy (OEPMC) services for a substantial 875 MW Solar Photovoltaic Power Project situated within RVUNL's expansive 2000 MW Solar Park at Pugal, Bikaner district, Rajasthan.

Contract Details and Scope

The comprehensive consultancy agreement outlines Ahasolar Technologies' responsibility for providing specialized engineering and project management services for the large-scale solar installation. The project represents a significant component of the broader 2000 MW solar park development in Rajasthan, one of India's leading states for solar energy generation.

Project Execution Framework

The 18-month execution timeline demonstrates the comprehensive nature of the consultancy services required for the project. As a domestic contract, the engagement aligns with India's renewable energy expansion objectives and supports local expertise development in the solar sector.

Regulatory Compliance

Ahasolar Technologies disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders. The company confirmed that no promoter, promoter group, or group companies have any interest in the entity awarding the contract, maintaining arm's length transaction principles.

Strategic Significance

This consultancy contract reinforces Ahasolar Technologies' position in India's renewable energy consulting sector. The engagement with CIL Rajasthan Akshay Urja Limited for such a substantial solar project capacity underscores the company's technical capabilities and market recognition in providing specialized Owner's Engineering and Project Management services for large-scale solar installations.

Ahasolar Technologies Limited, a company specializing in solar energy solutions, has released its statement of deviations or variations in IPO proceeds utilization for the quarter ended September 30, 2025. The company also announced a new consultancy contract with the Gujarat Energy Development Agency (GEDA).

IPO Proceeds Utilization

The Audit Committee reviewed the statement on November 14, 2025, reporting no deviations from the planned use of funds raised through the company's Initial Public Offering (IPO) on July 17, 2023. The total amount raised was ₹12.84 crore, which has been allocated as follows:

The company confirmed that there were no deviations or variations in the use of IPO proceeds, and both the Audit Committee and auditors had no comments on the utilization.

New Consultancy Contract

In a separate announcement dated November 13, 2025, Ahasolar Technologies Limited disclosed that it has secured a consultancy contract from the Gujarat Energy Development Agency (GEDA). The contract, valued at approximately ₹96.00 lakhs, involves the following services:

1. Consultancy for Operation & Maintenance (O&M)
2. Development of Gujarat Energy Development Agency EV Portal

Key details of the contract include:

• Duration: Three years
• Nature: Domestic consultancy contract
• Client: Gujarat Energy Development Agency (GEDA)

The company clarified that this contract does not involve any related party transactions, and neither the promoter group nor group companies have any interest in GEDA.

These developments showcase Ahasolar Technologies' commitment to its growth strategy in the solar energy sector and its expanding role in EV infrastructure development. The proper utilization of IPO funds and the new consultancy contract may potentially strengthen the company's position in the renewable energy market.