Insolation Energy Ltd.’s wholly-owned subsidiary, Insolation Green Energy Pvt. Ltd., has bagged a major solar module supply order worth ₹143.20 crore on Thursday (September 11) from Zetwerk Manufacturing Businesses Pvt. Ltd.
The contract is slated for execution during the financial year 2025-26.
In a parallel development, Insolation Green Energy announced on Wednesday (September 10) that it has incorporated nine new wholly-owned subsidiaries.
These special purpose vehicles (SPVs)—including VNPG Green Infra Pvt. Ltd., JEMP Green Infra Pvt. Ltd., EVNJ Green Infra Pvt. Ltd., DGEJ Green Infra Pvt. Ltd., ENS Green Infra One Pvt. Ltd., DMGN Green Infra Pvt. Ltd., PRJG Green Infra Pvt. Ltd., NSJG Green Infra Pvt. Ltd., and NEPG Green Infra Pvt. Ltd.—will serve as dedicated entities for solar power plant development and operations.
The newly formed SPVs will focus on the design, supply, erection, testing, commissioning, and operation and maintenance (O&M) of solar power projects, including rooftop solar (RTS) photovoltaic systems.
Each subsidiary has been incorporated with a subscription amount of ₹1,00,000.
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Shares of Insolation Energy Ltd ended lower on Thursday (September 11) by 3.02% at ₹195.90 on BSE.
