Nature of the Event
Oneindig Technologies Limited has entered into a Memorandum of Understanding (MOU) with Amritdev Renewable Energy Private Limited for collaboration on developing, generating, and supplying electricity from a 4.8 MW solar power project.
Key Quantitative Figures
- Project capacity: 4.8 MW solar project
- Consideration: ₹13,00,000 per MW to be paid
- Land lease finalization timeline: Within 30 days from signing definitive agreements
- Land lease completion timeline: Within 30-40 days from signing definitive agreements
Dates of Action
- Disclosure date: September 10, 2026
- MOU execution date: Not specified (disclosed on September 10, 2026)
Parties Involved
- Oneindig Technologies Limited (Listed entity, Scrip Code: 544852)
- Amritdev Renewable Energy Private Limited (Counterparty)
Project Location and Details
- Project to be established at District-Fatehpur, Uttar Pradesh
- Electricity to be fed to substation Gazipur, Fatehpur
- Project falls under PM-KUSUM Component-2 scheme
Transaction Structure
- Oneindig Technologies is desirous of acquiring the 4.8 MW solar project portfolio
- Transaction subject to satisfactory due diligence and execution of definitive agreements
- Amritdev Renewable Energy Private Limited is willing to sell/transfer the project to OTL on mutually agreed terms
Significant Terms and Conditions
- The transaction is not a related party transaction
- Amritdev Renewable Energy Private Limited is a newly incorporated company
- Land lease finalization required within 30 days from signing definitive agreements
- Regulatory approvals required: NHAI approval for cable crossing from Gazipur site
- Railway department approval already obtained
- Local support to be provided for clearing issues during project execution
Collaborative Projects Development
Both parties seek to harness their strengths to enhance domestic and global business presence through this collaboration.
Financial Impact
Financial impact not quantified in the disclosure beyond the per MW consideration amount.