Solarworld Energy Solutions has secured a major Engineering, Procurement and Construction (EPC) contract worth ₹725.33 crore from NTPC Renewable Energy Limited for developing a 250 MWac grid-connected solar photovoltaic project. The project is scheduled for completion during FY 2026-27, marking a significant addition to the company's growing order book.

Contract Details and Scope

The EPC package involves end-to-end execution, including engineering, procurement and construction of the solar facility. According to regulatory disclosures, the contract was awarded by a domestic entity and includes all taxes. The company clarified that neither the promoter nor promoter group entities have any interest in NTPC Renewable Energy, confirming the transaction does not fall under related-party dealings.

Recent Order Wins

The NTPC Renewable contract represents the latest in a series of significant order wins for the company. Earlier this month, Solarworld Energy secured another substantial order worth ₹806.40 crore from Gujarat Urja Vikas Nigam for developing 200 MW / 400 MWh Battery Energy Storage Systems (BESS) in Gujarat state.

Company Profile and Operations

Solarworld Energy Solutions, headquartered in Noida, specializes in solar energy solutions with a focus on EPC services for solar power projects. The company provides customized rooftop and ground-mounted solar solutions for commercial, industrial, and utility clients. Since commencing operations in 2013, the company has established itself as a provider of comprehensive, end-to-end solutions for solar power project installations.

The company operates as both a service provider and manufacturer, with an annual solar module manufacturing capacity of 1.80 GW. Its client base comprises public sector undertakings along with commercial and industrial clients.

Financial Performance and Expansion Plans

Solarworld Energy raised ₹440.00 crore through its Initial Public Offering in August. The IPO proceeds are allocated for investment in subsidiary Kartik Solarworld Pvt Ltd., specifically for part-financing the establishment of a 1.20 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh, along with general corporate purposes.

Stock Performance

Shares of Solarworld Energy Solutions ended 2.50% lower in the latest trading session. The stock has declined over 18% since its listing, reflecting market volatility in the renewable energy sector. The company maintains a robust project portfolio with ongoing contracts from multiple major clients including SJVN, NTPC, Rajasthan Urja Vidyut Nigam, and Leading Renewable Energy Co.

Solarworld Energy Solutions Limited has announced that its subsidiary has received significant regulatory approval to supply solar panels to grid-connected projects across India. The company disclosed this development to stock exchanges on December 22, 2025, in compliance with SEBI listing regulations.

Regulatory Approval Details

The Ministry of New & Renewable Energy, Grid Solar Power Division, has enlisted Znshine Solarworld Private Limited under List-I (Manufacturers and Models of Solar PV Modules) of the ALMM Order 2019. This approval was granted through revision number XLV dated December 22, 2025.

Business Impact and Significance

The approval carries substantial business implications for Solarworld Energy Solutions Limited. Under the Approved Models and Manufacturers of Solar Photovoltaic Modules (requirement of compulsory registration) Order 2019, only listed and registered solar panels can be supplied to grid-connected projects in India. This regulatory framework ensures quality standards and compliance in the solar energy sector.

With this enlistment, Znshine Solarworld Private Limited can now supply solar panels to grid-connected projects throughout India. The 1.552 GW annual capacity represents significant manufacturing capability in the growing Indian solar market.

Regulatory Framework

The ALMM (Approved List of Models and Manufacturers) Order 2019 is a crucial regulatory mechanism that governs solar panel supply to grid-connected projects in India. The order mandates compulsory registration for manufacturers and their specific models before they can participate in the Indian solar market.

Key aspects of the approval include:

• Coverage under List-I for manufacturers and models of Solar PV Modules
• Compliance with quality and technical standards
• Authorization for grid-connected project supply
• Four-year validity period providing business certainty

Company Structure

Solarworld Energy Solutions Limited operates in the power infrastructure sector with a market capitalization of ₹2,576.78 crores, classified as a small-cap company. The company maintains its registered office in New Delhi and corporate office in Noida, Uttar Pradesh. Znshine Solarworld Private Limited operates as a wholly owned subsidiary, focusing on solar panel manufacturing and supply operations.

The regulatory approval strengthens the company's position in India's expanding renewable energy market, providing a clear pathway for solar panel supply to grid-connected projects across the country.