Date: June 18, 2026

Disinvestment / Strategic Actions

This disclosure provides an update on the acquisition of equity stakes in Terraverde Renewables Private Limited and Bluesky Renewables Private Limited (collectively "Target Companies"), which was previously disclosed on June 17, 2026.

  • The Target Companies have secured and executed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Limited (MSEDCL)
  • PPAs are for the development of solar power projects with an aggregate contracted capacity of 37 MW (AC) in Maharashtra
  • Project locations span multiple districts: Chandrapur, Gadchiroli, Akola, and Amravati
  • Capacity distribution: Bluesky Renewables – 19 MW (AC), Terraverde Renewables – 18 MW (AC)
  • Installed capacity is distributed across six sites

Contract Details

  • PPAs were executed with MSEDCL on April 16, 2025
  • Contract term: 25 years
  • Fixed tariff: ₹3.09 per kWh for power supplied to MSEDCL
  • Projects are eligible for subsidy support of approximately ₹90.60 lakh per MW (AC)
  • Total subsidy: Approximately ₹33.52 crore

Acquisition Structure

  • Silgo Retail Limited has acquired 49% equity stake in both Target Companies
  • Both companies are proposed to become Wholly Owned Subsidiaries of Silgo Retail Limited pursuant to transaction documents
  • The agreement purpose is to develop, establish, operate and maintain solar power projects
  • Electricity generated will be sold to MSEDCL to meet its renewable energy procurement requirements
  • No shareholding exists in MSEDCL
  • Transaction does not qualify as related party transaction
  • No special rights like right to appoint directors, first right to share subscription, or right to restrict capital structure changes
  • No potential conflict of interest identified

Strategic Rationale

  • Strengthens Company's presence in the renewable energy sector
  • Aligns with strategy of creating long-term value through sustainable and clean energy initiatives
  • Expected to enhance long-term viability and returns of the projects through subsidy support