Solarworld Energy Wins Rs 725-Crore Order From NTPC Renewable
The project is scheduled to be completed in the financial year 2026-27, as per the terms of the order.
Solarworld Energy Solutions Ltd. on Saturday announced it has bagged an order worth Rs 725.33 crore from NTPC Renewable Energy Ltd. The contract involves Engineering, Procurement and Construction (EPC) package for development of 250 MWac grid connected solar PV project.
The project is scheduled to be completed in the financial year 2026-27, as per the terms of the order, according to a stock exchange filing.
Earlier this month, the company secured an order worth Rs 806.40 crore from Gujrat Urja Vikas Nigam Ltd. for the development of 200 MW / 400 MWh Battery Energy Storage Systems (BESS) in the state.
Noida-headquartered Solarworld Energy Solutions offers solar energy solutions, specialising in EPC services for solar power project, and customised rooftop and ground-mounted solar solutions for commercial, industrial, and utility clients.
It commenced operations in 2013, providing comprehensive, end-to-end and cost-effective solutions for installing solar power projects for its clients, which comprise public sector undertakings and commercial and industrial clients. It is also a manufacturer of solar modules with an annual capacity of 1.8 GW.
The company raised Rs 440 crore via an IPO in August. The proceeds will be used for investment in the subsidiary, Kartik Solarworld Pvt Ltd., for part-financing the establishment of a 1.2 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh and for general corporate purposes.
Solarworld Energy has ongoing projects from SJVN Ltd., NTPC Ltd., Rajasthan Urja Vidyut Nigam Ltd. and Leading Renewable Energy Co. The total order book value stood at Rs 3,223 crore as of Oct. 31.
Shares of Solarworld Energy settled 2.6% lower at Rs 264.15 on the BSE on Friday, compared to a 0.4% decline in the benchmark Sensex. The stock is down 18% since listing in September.
