On January 17, 2025, Power & Instrumentation (Gujarat) Limited (PIGL) made a significant announcement regarding the award of a work order worth ₹17.07 Crores for the supply, installation, testing, and commissioning of a 5 MW (AC) Solar Power Project in Latur District, Maharashtra. This contract has been awarded by A2 Green Energy Private Limited (formerly known as Hydel Consultants Private Limited). The project scope includes the complete execution of the solar power infrastructure, ensuring all equipment is operational, and the plant is fully commissioned, in line with the project requirements. The expected project duration is 18 months from the date of commencement.

This order marks a significant milestone for Power & Instrumentation (Gujarat) Ltd. as it enters the Solar EPC domain for the first time. The company has built a reputation in the electrical contracting industry, and this venture into renewable energy aligns with India’s vision of promoting sustainable and clean energy. The company’s successful execution of similar projects in various sectors provides confidence that the company is well-equipped to handle the demands of this new venture.

The award of this 5 MW Solar Power Project not only strengthens Power & Instrumentation (Gujarat)’s renewable energy portfolio but also showcases its expanding role in India’s solar energy market. The company’s expertise and experience in engineering, procurement, and construction (EPC) services across diverse projects demonstrate its capability to execute large-scale initiatives efficiently. As India increasingly focuses on renewable energy, this development represents a growing opportunity for Power & Instrumentation (Gujarat) to play a pivotal role in the solar power sector.

Commenting on the new contract, Mr. Padmaraj Padmnabhan Pillai, the Managing Director of Power & Instrumentation (Gujarat), expressed enthusiasm about the company’s foray into the Solar EPC domain. He highlighted that the company’s ability to deliver high-quality, timely, and efficient solutions would make a significant difference in the successful completion of this project. He also mentioned that this project opens new opportunities in the growing solar EPC sector and that the company would focus on expanding its presence in the field of renewable energy.

Founded in 1975, Power & Instrumentation (Gujarat) Ltd. has long been a leader in the electrical contracting space, offering a wide range of services in transmission & distribution, maintenance, and energy-efficient systems. With over 35 airport projects completed and more than 1,00,000 BPL households electrified, the company’s experience and commitment to quality and on-time delivery have earned it a solid reputation in the industry. In May 2023, the company marked a significant achievement by migrating to the main boards of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

In the financial year 2024, the company reported Total Income of ₹102.03 Crores, an EBITDA of ₹12.36 Crores, and a Net Profit of ₹5.93 Crores. These results showcase the company’s ability to generate sustainable growth, even as it expands into the solar EPC sector.

This project, valued at ₹17.07 Crores, demonstrates Power & Instrumentation (Gujarat)'s growing role in the renewable energy sector and is expected to further enhance its market presence and portfolio diversification.

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