Solarium Green Energy wins INR82.2M of work orders

Solarium Green Energy wins INR82.2M of work orders

Solarium Green Energy Limited has made a significant stride in its solar energy business by securing rooftop solar orders worth ₹8.22 crore from NTPC Vidyut Vyapar Nigam Limited (NVVN) for Defense Research and Development Organisation (DRDO) projects across India. This development underscores the growing adoption of renewable energy solutions by government entities and reinforces Solarium Green Energy's role in India's transition towards sustainable energy sources.

The contract includes three projects: a 1000 kW system in Chennai (₹3.48 crore), an 860 kW system in Visakhapatnam (₹2.99 crore), and a 505 kW system in Chandipur (₹1.76 crore). Each project involves supply, installation, and 10-year maintenance. Completion is expected within 120 days of the Notice of Award.

The contract value of ₹8.22 crore (excluding GST) is divided into three separate work orders, as follows:

- ₹3.48 crore for a 1000 kW Rooftop Solar Project at DRDO Chennai
- ₹2.99 crore for an 860 kW Rooftop Solar Project at DRDO Visakhapatnam
- ₹1.76 crore for a 505 kW Rooftop Solar Project at DRDO Chandipur

Ankit Garg, Chairman & Managing Director of Solarium Green Energy, stated that these orders will significantly broaden the company's customer base and serve as a key driver in enhancing profitability. The contracts not only strengthen Solarium's position in the solar energy sector but also highlight its capability to execute projects for prestigious organizations like DRDO.

Investors and stakeholders will likely view this contract positively, as it demonstrates the company's ability to secure substantial projects in the competitive solar energy market. The long-term nature of the O&M contracts also provides Solarium with a steady revenue stream for the next decade, potentially improving its financial stability and growth prospects.

References:

[1] https://scanx.trade/stock-market-news/orders-deals/solarium-green-energy-secures-8-22-crore-solar-contract-from-ntpc-for-drdo-projects/18549577
[2] https://www.business-standard.com/markets/news/solarium-green-energy-jumps-5-percent-on-two-new-development-check-details-125090400411_1.html