Insolation Energy's Subsidiary Secures 99 MW Solar Project Order from MSEDCL
Insolation Energy's subsidiary received a Letter of Award for nine solar projects totaling 99 MW AC (128.7 MW DC) from MSEDCL. The projects are expected to generate ₹59.72 crore annually for 25 years, with an investment of ₹425 crore. Commissioning is expected within 18 months.
The award of multiple solar projects with a substantial aggregate capacity and a long-term revenue stream will significantly impact the company's financial performance and market position in the renewable energy sector.
The company has secured a significant new order for solar power projects, which is expected to generate substantial and stable revenue over 25 years. This indicates business growth and expansion.
Insolation Energy Limited (INA) has announced that its wholly-owned subsidiary, Insolation Green Energy Private Limited, has received a Letter of Award (LOA) for setting up nine solar power projects. The projects, awarded by Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) under the Mukhyamantri Saur Krushi Vahini Yojana - 2.0, will have an aggregate capacity of 99 MW AC (128.7 MW DC).
These projects are designed to generate a sustainable revenue of approximately ₹59.72 crore per annum for the next 25 years, based on a finalized levelized tariff of ₹2.90 per unit. The total investment for the establishment of these solar power plants is estimated to be around ₹425 crore (including GST). The projects are to be commissioned within 18 months from the date of execution of the Power Purchase Agreement (PPA).
A plain-language summary of a public exchange filing by Insolation Energy Limited. Read the original for the full detail.