Insolation Energy Secures Rs.372.20 Crore Orders; Stock Rises 5%

 

Summary:
Insolation Energy Limited has received two major orders, adding a combined revenue of Rs.372.20 crore. The company secured a Letter of Award (LOA) from Rajasthan Renewable Energy Corporation Limited (RREC) for a rooftop solar project and a purchase order from Teerth Gopicon Limited for the supply of solar photovoltaic (SPV) modules.
Stock Performance:

• Following the announcement, Insolation Energy’s stock surged nearly 5%, hitting an intraday high of Rs.264.70.

• Market Cap: Rs.5,684.85 Cr

Key Data Points:

1. Rajasthan Renewable Energy Corporation (RREC) Contract:

• Project Scope: Design, supply, erection, testing, commissioning & 25-year O&M

• Project Type: Rooftop Solar on State Government Buildings

• Mode: Hybrid Annuity Model

• Districts Covered: Jaipur, Dausa, Churu (Rajasthan)

• Contract Value: Rs. 340.20 crore

2. Teerth Gopicon Limited Purchase Order:

• Product: 46,297 Solar Photovoltaic (SPV) MONO Crystalline Modules

• Contract Value: Rs.32 crore

• Total Revenue Addition: Rs.372.20 crore

About the Company:

Incorporated in 2015, Insolation Energy Ltd is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes. The company's 200 MW SPV Module manufacturing unit is located in Jaipur, spread over more than 60,000 Sq. ft area with the latest machinery.

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