Solarworld Energy Solutions Limited has secured approval from its Executive Committee for issuing bank guarantees worth ₹6.75 crores to support its wholly-owned subsidiary's battery energy storage project. The decision was made during the committee meeting held on March 11, 2026.

Project Details and Structure

The bank guarantee will support Solarworld BESS One Private Limited's participation in a significant battery energy storage initiative. The project involves setting up standalone Battery Energy Storage Systems (BESS) under a competitive bidding process conducted by RVUNL and RVPNL.

Financial Arrangements

The company has structured the financial support through non-fund-based facilities. Yes Bank Limited is providing the credit facility to the subsidiary, with the parent company offering the bank guarantee as security.

Regulatory Compliance

The approval was granted in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has committed to submitting additional disclosure requirements to the stock exchanges upon execution of the relevant documents, as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Strategic Significance

This development represents Solarworld Energy Solutions' expansion into the battery energy storage sector through its subsidiary structure. The project's competitive bidding nature and the inclusion of Viability Gap Funding support indicate the strategic importance of energy storage solutions in India's power sector infrastructure development.

Solarworld Energy Solutions Limited has notified BSE Limited and National Stock Exchange of India about the withdrawal of its credit rating by CARE Ratings Limited. The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rating Withdrawal Details

The company had obtained an issuer rating from CARE Ratings Limited and subsequently made a voluntary request for withdrawal of the said credit rating. CARE Ratings processed this request in accordance with their withdrawal policy.

Communication from CARE Ratings

CARE Ratings Limited addressed their withdrawal letter to Shri Kartik Teltia, Director of the company, confirming the withdrawal of the issuer rating. The rating agency emphasized that ratings should not be used hereafter for any purpose whatsoever following the withdrawal.

The letter was signed by Aniket Shringarpure, Lead Analyst, and Shachee Nakul Vyas, Assistant Director from CARE Ratings Limited. The agency indicated that they would announce the withdrawal through a press release as per their normal procedure.

Regulatory Compliance

Company Secretary and Compliance Officer Varsha Bharti (Membership No.: A37545) signed the disclosure letter on behalf of Solarworld Energy Solutions Limited. The company has uploaded this information on its website at www.worldsolar.in as part of its transparency obligations.

Company Information

Solarworld Energy Solutions Limited, formerly known as Solarworld Energy Solutions Pvt. Ltd., trades on BSE with scrip code 544532 and on NSE with the symbol SOLARWORLD. The company is located at A 45 50, Sec-16, Noida, Gautam Budh Nagar, Uttar Pradesh 201301.

CARE Ratings noted that they would be happy to offer their services for any future rating requirements. The withdrawal completes the formal process initiated by the company's voluntary request made in February 2025.

Source: None/Company/INE0TY101024/3d54bf2b-81f0-47b3-ba99-dd841eef26db.pdf