Epic Energy Subsidiary Receives Approval for 2.70 MWh Solar Power Project in Gujarat

Epic Energy Limited has announced a significant development in its renewable energy portfolio, with its wholly owned subsidiary receiving regulatory approvals for a solar power project in Gujarat. The company disclosed this information to BSE Limited on January 21, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Details and Regulatory Approvals

Epic Renewable Projects Private Limited (ERPPL), the company's wholly owned subsidiary, has secured the necessary regulatory approvals for developing a 2.70 MWh solar power project under the Distributed Renewable Energy Bilateral Procurement (DREBP) framework in Gujarat. The project represents a strategic expansion of the company's renewable energy operations in the state.

Parameter:	Details
Project Capacity:	2.70 MWh
Framework:	Distributed Renewable Energy Bilateral Procurement (DREBP)
Location:	Gujarat
Connectivity Point:	GETCO 66 kV Kera Substation
Awarding Authority:	Paschim Gujarat Vij Company Limited (PGVCL)

Grid Connectivity and Power Purchase Agreement

The project has received grid connectivity approval along with a Letter of Award from Paschim Gujarat Vij Company Limited (PGVCL) for connectivity at the GETCO 66 kV Kera Substation. The Letter of Award is contingent upon the execution of the Power Purchase Agreement (PPA) within the stipulated timeline as prescribed by the regulatory framework.

The solar power generated from this project is proposed for sale to the concerned Distribution Company (DISCOM) under the DREBP framework, ensuring a structured offtake mechanism for the renewable energy produced.

Implementation Timeline and Ownership Structure

The project is expected to be commissioned within 3 to 6 months from the date of execution of the PPA with PGVCL. This timeline is subject to the receipt of applicable regulatory approvals and completion of procedural formalities required for project implementation.

Aspect:	Details
Commissioning Timeline:	3-6 months from PPA execution
Project Owner:	Epic Renewable Projects Private Limited (ERPPL)
Ownership Structure:	Fully owned by the project Special Purpose Vehicle
Financing Approach:	Mix of equity and debt at SPV level

Financial Structure and Investment Approach

The solar power project will be fully owned by the project Special Purpose Vehicle, ERPPL. Project financing is proposed to be undertaken through a judicious mix of equity and debt at the SPV level. The detailed financing structure is currently under finalization, indicating the company's strategic approach to optimizing capital allocation for renewable energy investments.

The company confirmed that this agreement does not fall within related party transactions, and promoter groups have no interest in the entity being acquired. The project development represents an arm's length transaction aligned with the company's renewable energy expansion strategy.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.91%	+4.21%	-5.55%	-31.57%	-40.97%	+803.76%

Epic Energy Limited, a sustainable energy solutions provider, has reported an increase in revenue for the second quarter of fiscal year 2025-26, alongside announcing a strategic warrant issue to raise funds for expansion.

Financial Performance

For the quarter ended September 30, 2025, Epic Energy reported:

Metric	Q2 FY2025-26	Q2 FY2024-25	YoY Change
Revenue from Operations	75.35	69.35	+8.65%
Profit Before Tax	23.82	33.26	-28.38%
Net Profit	22.06	34.25	-35.59%

The company's revenue from operations saw an 8.65% year-on-year increase, rising from Rs 69.35 lakh in Q2 FY2024-25 to Rs 75.35 lakh in Q2 FY2025-26. However, net profit decreased by 35.59% to Rs 22.06 lakh, compared to Rs 34.25 lakh in the same quarter of the previous fiscal year.

Half-Year Performance

For the half-year ended September 30, 2025, Epic Energy reported:

Revenue from operations: Rs 179.37 lakh
Profit before tax: Rs 34.78 lakh
Net profit: Rs 33.09 lakh

Segment-wise Performance

The company operates in three segments:

Power Saving Solutions
Renewable Energy Solutions
EV Charging Infrastructure

The Renewable Energy Solutions segment was the primary revenue driver, contributing Rs 74.00 lakh to the total revenue in Q2 FY2025-26.

Strategic Warrant Issue

Epic Energy's Board of Directors has approved the issuance of up to 38 lakh fully convertible warrants at Rs 50 per warrant. This preferential allotment aims to raise up to Rs 19 crore. Key details of the warrant issue include:

Conversion period: Within 18 months from the allotment date
Conversion ratio: One warrant convertible into one equity share of Rs 10 face value
Participants: Nine investors, including promoters and non-promoters
Largest subscriber: Soleos Energy Pvt Ltd, subscribing to 20 lakh warrants

Future Outlook

The funds raised through the warrant issue are expected to strengthen Epic Energy's position in solar parks, electric-vehicle charging infrastructure, and end-of-life battery materials recovery. This move aligns with the company's focus on sustainable energy solutions, including rooftop solar power plants, solar EPC, energy audits, and LED retrofitting.

Epic Energy's CFO, Mr. Nikhil Morsawala, stated, "Subject to shareholder and regulatory approvals, this proposed investment is expected to enhance Epic's ability to develop bankable renewable assets, expand electric-mobility infrastructure, and scale recycling operations with a focus on safety, compliance, and performance."

As Epic Energy continues to navigate the evolving clean energy landscape, this strategic fundraising and expansion initiative may position the company for potential growth in the sustainable energy sector.