Annu Projects Limited has executed a Memorandum of Understanding (MoU) with GEIE Solar Products India Private Limited (GEIE) regarding procurement and supply of materials for a rooftop solar project. The project was awarded to GEIE by Jaipur Vidyut Vitran Nigam Limited (JVVNL).
The underlying JVVNL award has a total contract value of ₹44,30,56,000 (₹44.31 crore).
Purpose and Responsibilities
Under the MoU, Annu Projects Limited is responsible for the procurement and exclusive supply of specified materials for the solar project. GEIE remains the project executing agency and is solely responsible for installation, commissioning, operation and maintenance, and all other obligations under the award documents.
Materials to be Supplied
The specified materials include solar PV modules, mounting structures, cables/wires, inverters, and monitoring equipment. Supply is subject to agreed purchase orders.
Financial Arrangements
The arrangement provides for a project account and an agreed payment mechanism for the supply consideration, subject to the terms of the MoU.
Relationship Clarification
There is no shareholding in GEIE by Annu Projects Limited. The parties are not related to promoters/promoter group/group companies in any manner. The transaction does not fall within related party transactions. The MoU explicitly states that it does not create a partnership, joint venture, or agency relationship between the parties.