Orient Green Power Company Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 '.
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Orient Green Power's subsidiary, Delta Renewable Energy Private Limited, has signed an EPC contract with Remon Solutions Private Limited to develop a 7.00 MW AC (9.80 MW DC) solar power project in Tiruttani Taluk, Thiruvallur District, Tamil Nadu. The estimated development cost of the project is Rs. 40 crores. The project is to be executed within 5 months from the date of completion of land registration. The contract is domestic in nature, and there are no related party interests involved. The disclosure was made under Regulation 30 of SEBI Listing Regulations.
This is a positive development as it expands the company's solar power capacity by 7 MW AC, adding to its renewable energy portfolio. Shareholders should view this as a capacity addition move, though the Rs. 40 crore outlay may also mean increased capex and execution risk over the next few months.