Silgo Retail Limited has informed the Exchange about General Updates
SILGO · price
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Silgo Retail Limited has acquired a 100% equity stake in Hare Krishna Creative Realty Private Limited, marking its entry into the renewable energy sector. The target company has been awarded a 51 MW solar power project across 16 sites in Maharashtra by Maharashtra State Electricity Distribution Company Limited (MSEDCL), spanning districts including Aurangabad, Dhule, and Solapur. A Power Purchase Agreement (PPA) was already executed on March 28, 2025, under which power will be sold at a fixed tariff of Rs. 2.99/kWh for 25 years. The project qualifies for a subsidy of Rs. 91.23 lakh per MW, totaling Rs. 46.53 crores across all 16 sites.
This is a significant diversification move for Silgo Retail, shifting part of its focus toward renewable energy with a long-term revenue stream locked in via a 25-year PPA at a fixed tariff. The sizeable subsidy and MSEDCL-backed offtake reduce revenue risk, though execution and integration risks remain. Shareholders should view this as a strategic pivot that could re-rate the stock if the solar project delivers as expected.