Letter of Intent (LOI) awarded to Insolation Green Energy Private Limited (A Wholly Owned Subsidiary of the Company)
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Insolation Energy's wholly owned subsidiary, Insolation Green Energy Pvt Ltd, has received a Letter of Intent from Jaipur Vidyut Vitran Nigam (JVVNL) and Ajmer Vidyut Vitran Nigam (AVVNL) to set up 226.45 MW of grid-connected solar power plants across 135 sites in Rajasthan under the central government's PMKUSUM Component A scheme. The project involves an investment of around Rs. 750 crore (including GST) and is expected to generate annual revenue of approximately Rs. 98.47 crore, based on tariffs ranging from Rs. 2.60 to Rs. 3.04 per unit. The company will also handle operations and maintenance for 25 years from the date of commissioning. Execution is targeted for completion by Financial Year 2026-27. No promoter or related party interest is involved in the awarding entities.
This is a major order win for Insolation Energy that significantly expands its solar project pipeline and locks in long-term, government-backed recurring revenue over 25 years. The announcement is likely to be viewed positively by the market given the scale of the order and the credit quality of the off-takers (state discoms), though execution by FY2026-27 will be the key thing to watch.