Agreement Details
Parties Involved: GRE Renew Enertech Limited and Solarium Green Energy Limited
Purpose: Execution of Engineering, Procurement and Construction (EPC) works on a turnkey basis for development of an approximately 50 MW AC / 65 MW DC Ground Mounted Solar PV Project together with Operation & Maintenance (O&M) Services for three (3) years.
Execution Date: June 30, 2026
Contract Value: Aggregate contract value of ₹175,00,00,000/- (Rupees One Hundred Seventy-Five Crore Only), exclusive of applicable taxes, comprising:
- ₹170,00,00,000/- towards EPC works
- ₹5,00,00,000/- towards Operation & Maintenance (O&M) Services
Term: Effective from June 30, 2026 until completion of the Project, Operation & Maintenance obligations and fulfilment of all contractual obligations, unless terminated in accordance with the Agreement.
Significant Terms
The Agreement contains customary commercial terms relating to project execution, payment milestones, performance obligations, warranties, indemnities, confidentiality, limitation of liability, force majeure, dispute resolution, termination and other standard contractual provisions.
Transaction Classification
- Promoter/Promoter Group Interest: No
- Related Party Transaction: No
- Ordinary Course of Business: Yes
Context and Clarification
This disclosure is in continuation of the company's previous disclosure dated June 30, 2026 regarding receipt of a Letter of Award from Solarium Green Energy Limited. The executed Agreement formalizes the contractual arrangements between the parties and incorporates detailed contractual terms and conditions. There is no material deviation in the commercial scope or consideration from the Letter of Award previously disclosed.
The execution of the Agreement does not result in any change in the Company's business model or line of business and has been entered into in the ordinary course of business on customary commercial terms.