Solex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contracts by its subsidiary Solex Green Energy Private Limited.
SOLEX · price
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Awaiting price reaction for this filing.
Solex Energy's wholly-owned subsidiary, Solex Green Energy Private Limited, has been awarded orders to develop solar power projects totalling 24.1 MW capacity for a combined value of ₹68.685 crores. The projects will be executed under the Government of India's Distributed Renewable Energy Bilateral Purchase (DREBP) Policy, which promotes clean and distributed solar energy. Orders have been received from 14 private individuals and one entity (K M Enterprise), with execution scheduled across FY 2025-26 in multiple tranches. Importantly, several of the order-awarding parties are promoters or directors of Solex Energy/Solex Green Energy, making these related party transactions done at arm's length.
The order strengthens the subsidiary's solar EPC order book and aligns with the government's clean energy push, which is a positive commercial signal. However, investors should note the significant related party component in these orders, which raises governance and pricing fairness questions worth monitoring.