Silgo Retail Limited has informed the Exchange about General Updates
SILGO · price
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Silgo Retail Limited has signed an agreement on August 22, 2025 to acquire 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 by Maharashtra State Electricity Distribution Company Limited (MSEDCL), spread across 16 sites in Aurangabad, Dhule, and Solapur districts of Maharashtra. A Power Purchase Agreement (PPA) was executed on March 28, 2025, under which power will be sold to MSEDCL at a fixed tariff of Rs. 2.99 per kWh for 25 years. The project also carries a government subsidy of Rs. 91.23 lakh per MW, aggregating to Rs. 46.53 crores across all 16 sites, providing long-term revenue visibility.
This is a strategic diversification move from Silgo's core retail jewellery business into the renewable energy space, potentially unlocking long-term stable cash flows backed by a 25-year PPA with a state utility. Shareholders should view this positively as it reduces concentration risk and adds an asset-light, government-backed revenue stream, though execution and integration risks remain.