Transfer of Ownership and Settlement Agreement for Partially Developed Solar Power Project - Mehsana Dairy and Food Products Limited

GRE Renew Enertech's board has approved taking ownership of a partially developed 1.45 MW AC / 1.849 MW DC ground-mounted solar power project in Banaskantha, Gujarat, from Mehsana Dairy and Food Products Limited. Mehsana Dairy, the original client for whom the project was being built under an EPC contract, withdrew from the project, and the parties have now agreed to a settlement that transfers the work-in-progress project to GRE Renew. The total consideration is about ₹4.06 crore, to be settled through commercial adjustments and accounting entries. The company plans to book the project as stock-in-trade/WIP and then either sell it to an identified buyer or complete the remaining EPC work itself. The transaction is at arm's length, with no related party or promoter involvement, and no specific government approval is required for the transfer itself.