NSE/BSE Codes: BSE: 544532, Symbol: SOLARWORLD

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 regarding outcome of Dispute Adjudication Board proceedings for two solar EPC projects.

Involved Parties / Authorities:

  • Solarworld Energy Solutions Limited (Claimant/EPC Contractor)
  • SJVN Green Energy Limited (Respondent/Employer)
  • Dispute Adjudication Board with Sole Adjudicator Er. Harish Kumar Sharma, Former Executive Director of SJVN Limited and Impaneled Independent Engineer, Ministry of Power, Government of India

Date / Timeline of Event:

  • Date of occurrence: September 18, 2026 at 3:24 p.m. (IST)
  • Date of disclosure: September 18, 2026
  • Case Reference Numbers: DAB/100MW/01/2026 and DAB/260MW/01/2026

Brief Description of Outcome / Dispute:

The company invoked the Dispute Adjudication Board mechanism under Clause 3.68 of Conditions of Contract for claims arising under two EPC contracts with SJVN Green Energy Limited for:

1. 100 MW (AC) Solar Photovoltaic Power Project at Village Mothara, Tehsil Abdasa, District Kutch, Gujarat (GUVNL Phase XIII) - 12 claim heads amounting to ₹56,50,60,742

2. 260 MW (AC) Solar Photovoltaic Power Project at same location (GUVNL Phase XIV) - 8 claim heads amounting to ₹1,62,82,85,096

The Sole Adjudicator passed separate Final Reasoned Determinations & Awards for both contracts.

Impact of Outcome:

Financial Impact:

100 MW Project Award (Case Ref. No. DAB/100MW/01/2026):

  • Total awarded/admitted value: ₹13,76,99,597
  • Liquid cash outlay: ₹5,78,98,417
  • Retention release (against Bank Guarantee/Insurance Surety Bond substitution): ₹7,98,01,180

260 MW Project Award (Case Ref. No. DAB/260MW/01/2026):

  • Total awarded/admitted value: ₹26,49,75,043
  • Liquid cash outlay: ₹2,08,59,223
  • Retention release (against Bank Guarantee/Insurance Surety Bond substitution): ₹24,41,15,820

Combined Total Award Value: ₹40,26,74,640

  • Total liquid cash: ₹7,87,57,640
  • Total retention release: ₹32,39,17,000
Operational / Business / Strategic Impact:

The awards resolve contractual disputes relating to release of retention monies, overdue supply invoices, delay financing interest, site preservation costs, module insurance costs, site operating costs, asset preservation costs, loss of profit, and financing/delay interest on DC cables.

Next Steps / Required Actions:

The disclosure has been made to the stock exchanges as required under SEBI Listing Regulations. The information will be made available on the company's website at https://worldsolar.in/