Insolation Energy Ltd., a leading player in India’s renewable energy sector, has achieved a significant milestone by winning its largest-ever order worth Rs. 500.50 Cr from Rajasthan Renewable Energy Corporation Ltd (RREC). This project encompasses the design, supply, erection, testing, commissioning, and comprehensive operation and maintenance (O&M) of grid-connected rooftop solar power systems on state government and government undertaking buildings in Rajasthan.

The contract, awarded under the Hybrid Annuity Mode (HAM), covers major districts including Jaipur, Ajmer, and Kota. This achievement further establishes Insolation Energy’s reputation as a reliable energy solutions provider, contributing to Rajasthan’s renewable energy mission.

The rooftop solar power systems will collectively generate 77 MW of electricity. Each phase of the project will undergo comprehensive maintenance for 25 years, ensuring consistent energy generation throughout its operational lifespan. Below is the breakdown of capacity and investment across districts:

The Operation and Maintenance (O&M) contract comes with a first-year O&M cost of Rs. 5,00,000 per MW, with an annual 3% escalation from the second year onwards, guaranteeing sustainable and efficient plant operations. This strategic partnership will reinforce Rajasthan's goal of expanding its renewable energy footprint.

Impact on Insolation Energy's Performance

With this latest order from RREC and a Rs. 208.32 Cr order from Zetwerk Manufacturing Business Pvt. Ltd., Insolation Energy's cumulative order value stands at Rs. 708.82 Cr. This remarkable achievement has already surpassed the company's H1 FY 2024-25 revenue figures and reflects the company’s growing stature in India’s renewable energy landscape.

The RREC project highlights Insolation Energy's ability to secure large-scale contracts, underscoring its focus on enhancing operational efficiency, broadening its customer base, and optimizing working capital. The project must be fully executed within 18 months, with commissioning expected by 2026.

This success further solidifies Insolation Energy’s commitment to driving India's renewable energy transition. By deploying state-of-the-art rooftop solar systems, the company contributes to the nation's efforts to achieve its sustainability targets.

Future Growth and Prospects

Insolation Energy’s win reflects the growing demand for solar power solutions across government and industrial sectors. The company remains well-positioned to benefit from India's push for renewable energy expansion, particularly as government initiatives focus on promoting solar energy adoption through incentives and favorable policy frameworks. The company’s leadership envisions similar large-scale projects to drive long-term growth and profitability.

This new contract aligns with Insolation Energy’s vision of scaling operations across key markets and pursuing new avenues within solar energy technologies. With a solid portfolio of projects and a focus on innovation and operational excellence, the company aims to maintain its trajectory of sustainable growth.

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