Solarworld Energy Solutions Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
SOLARWORLD · price
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Solarworld Energy Solutions Limited's Executive Committee approved issuing bank guarantees of up to ₹6.75 crore on behalf of its wholly-owned subsidiary, Solarworld BESS One Private Limited. The guarantee is from Yes Bank and supports the subsidiary's project under a government Request for Selection (RfS) for setting up 500 MW/1000 MWh standalone Battery Energy Storage Systems (BESS) in premises owned by RVUNL and GSS of RVPNL, with an additional green shoe option of up to 500 MW/1000 MWh. The project is backed by Viability Gap Funding (VGF) support and will be executed under the Build-Own-Operate (BOO) model. The disclosure confirms the company's active push into the battery energy storage segment through its subsidiary.
The move signals project execution progress in Solarworld's BESS subsidiary and strengthens its position in the government-backed energy storage space, though the guarantee amount of ₹6.75 crore is relatively small and unlikely to materially impact the parent company's financials. Shareholders should view this as a positive operational update reflecting orderbook momentum.