Ravindra Energy Limited has secured a significant contract from the Hubli Electricity Supply Company (HESCOM), winning 13 solar power project awards with a combined capacity of 62 MW. The renewable energy company has entered into 25-year power purchase agreements for these projects, providing long-term revenue visibility and strengthening its position in Karnataka's solar energy sector.

Project Details and Financial Impact

The solar power projects represent a substantial investment opportunity for the company, with an estimated total project cost of ₹225.00 crores. The 25-year duration of the power purchase agreements ensures stable, long-term revenue streams for Ravindra Energy Limited.

Strategic Significance

This contract award marks a notable expansion of Ravindra Energy Limited's project portfolio in the Karnataka market. The partnership with HESCOM, a major electricity distribution company in the state, demonstrates the company's capability to secure substantial renewable energy contracts from established utility providers.

The 62 MW combined capacity across 13 projects indicates a diversified approach to project development, potentially reducing execution risks while maximizing the company's presence in the region. The long-term nature of the power purchase agreements provides revenue predictability over the next two and a half decades.

Market Position

Securing these multiple project awards from a single utility company showcases Ravindra Energy Limited's competitive positioning in the solar power sector. The ₹225.00 crore investment commitment reflects the company's financial capacity to undertake significant renewable energy projects and its confidence in the long-term viability of solar power generation in Karnataka.

Ravindra Energy Limited announced on January 9, 2026, that it has secured 13 Letter of Awards (LOA) from Hubli Electricity Supply Company Limited (HESCOM) for solar power projects with an aggregate capacity of 62 MW. The projects will be developed under the Build Own & Operate (BOO) model across HESCOM's jurisdiction in Karnataka state.

Project Overview and Financial Details

The solar power projects represent a significant business opportunity for Ravindra Energy Limited, with an estimated capital expenditure of approximately ₹225 crores. The projects are strategically distributed across 13 sub-stations of HESCOM, ensuring geographical diversification within Karnataka state.

Contract Terms and Timeline

HESCOM will enter into a 25-year Power Purchase Agreement (PPA) with Ravindra Energy Limited, providing long-term revenue visibility for the company. The contract structure offers stable cash flows over the extended operational period, with power sales at ₹2.95 per unit.

The company faces a commissioning timeline of 12 months from the date of Power Purchase Agreement execution. This timeline requires efficient project management and execution capabilities to meet the contractual obligations within the specified timeframe.

Strategic Significance

The projects fall under the domestic renewable energy sector, with HESCOM being a Karnataka Government-owned utility company. This partnership strengthens Ravindra Energy Limited's position in the state's renewable energy landscape and demonstrates the company's capability to secure substantial solar power contracts.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the contracts do not involve any related party transactions and that promoters have no interest in the awarding entity.

The projects represent a significant addition to Ravindra Energy Limited's renewable energy portfolio, positioning the company for sustained growth in Karnataka's solar power sector. The 25-year operational period provides long-term revenue certainty, while the Build Own & Operate model ensures complete project control and operational flexibility.