Insolation Energy Limited has announced that its Chief Financial Officer, Ms. Madhuri Maheshwari, has resigned from her role effective from the close of business hours on March 21, 2025. According to the regulatory filing, the resignation is due to her taking on another responsibility within the organization. The company also confirmed there are no material reasons behind her departure.
In her letter addressed to the Board of Directors, Ms. Maheshwari thanked the management and staff for their support during her tenure as Chief Financial Officer and Key Managerial Personnel. A replacement for the CFO role has not yet been announced.
Recently, the company announced that its wholly owned subsidiary, Insolation Green Energy, had secured two major orders from KPI Green Energy, amounting to Rs 733.04 crore. The first order, worth Rs 513.13 crore, involves the supply of Solar PV Module N Type Bi-Facial (Glass to Glass) for KPI Green Energy’s GUVNL project, with delivery scheduled between June 2025 and March 2026. The second order, valued at Rs 219.91 crore (including GST), is for a similar supply for the GUVNL Phase-2 project, also scheduled for delivery in the same timeframe.
These orders are in addition to a previously received Letter of Award (LOA) worth Rs 372.20 crore from Rajasthan Renewable Energy Corporation and Teerth Gopicon for the supply of solar modules under the Hybrid Annuity Model.
Insolation Energy is engaged in the business of manufacturing high-efficiency solar panels and modules of various sizes.
