Shares of Insolation Energy Limited gained momentum today after the company announced receiving a Letter of Intent (LOI) for solar power projects with a combined capacity of 38.43 MW. The company has secured contracts from Ajmer Vidyut Vitran Nigam Limited and Jaipur Vidyut Vitran Nigam Limited under the PM KUSUM Scheme – Component A. The total project value, including GST, stands at approximately Rs 134 crore.
According to the regulatory filing, the awarded projects involve the design, survey, supply, installation, testing, and commissioning of solar power plants through the RESCO Mode. Additionally, the projects include a comprehensive 25-year operation and maintenance (O&M) agreement. Ajmer Vidyut Vitran Nigam Limited has awarded contracts for two separate projects—one covering six sites with a total capacity of 9 MW at a levelized tariff of Rs 2.88 per unit and another spanning 21 sites with a total capacity of 28 MW at Rs 3.02 per unit. Jaipur Vidyut Vitran Nigam Limited has awarded a project for one site with a capacity of 1.43 MW, also at Rs 2.88 per unit.
The solar power plants are expected to generate approximately 6,14,88,000 units of electricity annually, contributing revenue of Rs 18.33 crore per year. These projects align with Insolation Energy’s strategy to enhance operational efficiency, optimize working capital, and expand its customer base. The company expects to complete the execution of these projects within the financial year 2025-26.
This order strengthens Insolation Energy’s position in India’s renewable energy sector and demonstrates its commitment to supporting the country’s clean energy transition. The company continues to play a crucial role in the solar industry by securing large-scale government contracts and expanding its footprint in the domestic market.
