Insolation Energy Ltd Receives Letter of Award for 99 MW Solar Power Projects
Insolation Energy Limited has secured a significant contract, marking a major step in its renewable energy expansion. The company's wholly owned subsidiary, Insolation Green Energy Private Limited, has received a Letter of Award (LOA) from the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL).This LOA covers the setup of nine solar power projects across various territories in Maharashtra. These projects are part of the Mukhyamantri Saur Krushi Vahini Yojana - 2.0 initiative.
The projects, which were awarded following a Tariff based Competitive Bid by MSEDCL, represent a substantial opportunity in sustainable energy generation.
Project Details and Financial Outlook
The combined projects covered under these LOAs will achieve a total generation capacity of 99 MW AC and 128.7 MW DC.Based on the finalized levelized tariff of ₹2.90 per unit across all nine sites, the project is expected to generate an annual revenue of approximately INR 59.72 crores. This project will provide a stable revenue stream throughout its 25-year operational life.
The contracts include the following key operational and financial parameters:
| Particulars | Details |
|---|---|
| Awarding Entity | Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) |
| Number of Sites | 9 |
| Total Capacity (AC) | 99 MW |
| Total Capacity (DC) | 128.7 MW |
| Annual Revenue Potential | INR 59.72 crores |
| Project Duration | 25 Years |
| Investment Cost | Approximately ₹425 crore (including GST) |
| Commissioning Timeline | Within 18 months from the date of execution of the PPA |
Insolation Green Energy Private Limited will be responsible for setting up these nine solar power projects. These projects involve the construction of decentralized ground-mounted solar power plants, each covered by a 25-year Power Purchase Agreement (PPA) to supply electricity.
The order represents a domestic contract, and there is no indication of any conflict or interest regarding the awarding entity.
INA Stock Price Movement
Shares of Insolation Energy Limited are edging higher to ₹96.53 as of 9:56 AM today, rallying sharply after rising by 2.92%. The stock has traded within a tight intraday range spanning from ₹93.95 to ₹97.74, with 260,324 shares exchanged so far this morning.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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