Insolation Energy's subsidiary secures Rs 750 crore solar power project from JVVNL and AVVNL

Insolation Energy said that its wholly owned subsidiary, Insolation Green Energy, has received a Letter of Intent (LOI) from Jaipur Vidyut Vitran Nigam (JVVNL) and Ajmer Vidyut Vitran Nigam (AVVNL) for setting up a 226.45 MW SPV solar power project.

The contract covers the design, survey, supply, installation, testing, commissioning, and comprehensive operation and maintenance (O&M) of the solar power plants for a period of 25 years from the commercial operation date (COD). It also includes establishing associated 11 KV lines to connect the plants with various 33/11 KV substations, along with a remote monitoring system (RMS).

The projects, awarded under the PM-KUSUM Component A Scheme, will be spread across 20 sites under JVVNL and 115 sites under AVVNL. Together, they will contribute to a combined capacity of 226.45 MW.

Levelized tariffs have been finalized at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, and Rs 2.60 per unit for 61 sites.

The project will entail an estimated investment of about Rs 750 crore and is structured to ensure long-term operational sustainability through a 25-year O&M commitment.

Jaipur-based Insolation Energy is a leading solar panel manufacturer in India.

The company's consolidated net profit surged 127.51% to Rs 126.20 crore while net sales jumped 80.92% to Rs 1,333.76 crore in FY25 over FY24.

The scrip shed 0.13% to currently trade at Rs 194.95 on the BSE.

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