Insolation Energy Limited has received a Letter of Intent (LOI) for the design, supply, installation, testing, commissioning, and operation and maintenance of a 38.43 MW solar power project. The company secured this order under the PM KUSUM Scheme - Component A, for grid-connected solar power plants through the RESCO Mode. The LOI was awarded by Ajmer Vidyut Vitran Nigam Limited for 28 MW and Jaipur Vidyut Vitran Nigam Limited for 1.43 MW, amounting to a total of 38.43 MW.

This significant milestone reflects Insolation Energy's commitment to expanding its renewable energy portfolio, contributing to the country's transition towards sustainable energy. The total SPV (Solar Power Plant) capacity includes 7 sites under Ajmer Vidyut Vitran Nigam Limited, with a capacity of 9 MW at a final levelized tariff of Rs. 2.880 per unit, and 21 sites under the same company, with a capacity of 28 MW at a levelized tariff of Rs. 3.020 per unit. Additionally, Jaipur Vidyut Vitran Nigam Limited has awarded 1 site with a capacity of 1.43 MW, also at a tariff of Rs. 2.880 per unit.

The combined 38.43 MW solar power capacity will significantly contribute to India's renewable energy generation and is expected to provide a steady revenue stream for Insolation Energy. The estimated annual generation from the project will be 6,14,88,000 KWh, which is projected to generate Rs. 18.34 Crores annually in revenue. The breakdown is as follows:

• 7 sites (10.43 MW) will generate 1,66,88,000 KWh per year, contributing Rs. 4.80 Crores in annual revenue.
• 21 sites (28 MW) will generate 4,48,00,000 KWh per year, contributing Rs. 13.53 Crores in annual revenue.

This contract is expected to lead to an investment of Rs. 134 Crores (including GST) for setting up the 38.43 MW solar power plant. The operation and maintenance (O&M) contract will last for 25 years, ensuring long-term performance and value creation from the solar plants.

The project’s execution timeline is set for the financial year 2025-26, with Insolation Energy spearheading the engineering, procurement, and construction (EPC) activities. The award of this contract underscores Insolation Energy's position as a leader in the renewable energy space and its ability to deliver large-scale projects with long-term sustainability.

In compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, the company has disclosed all necessary details of the LOI and the related financials, ensuring transparency and accountability. This disclosure aligns with the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring that stakeholders have up-to-date information regarding the company’s operations and financial performance.

The combined 38.43 MW solar power project will help Insolation Energy in expanding its footprint in India's renewable energy sector, contributing to the country's clean energy goals. Additionally, this venture supports the company’s broader strategy to enhance its operational efficiency, optimize working capital, and grow its customer base.

This announcement signifies another major achievement in Insolation Energy Limited’s journey, with Nitesh Sharma, the Company Secretary & Compliance Officer, confirming that there are no related party transactions or conflicts of interest in this deal. The company continues to strengthen its market position and operational framework to meet the growing demand for renewable energy solutions.

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