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The shares of Insolation Energy Limited were trading at ₹3666.05 up by ₹130.95 or 3.70 per cent on the BSE today at 10.30 am.
Insolation Energy Limited announced on October 30 that it has won its largest-ever contract, valued at ₹500.5 crore, from Rajasthan Renewable Energy Corporation Ltd (RREC). The project involves installing rooftop solar power systems on state government buildings across three districts in Rajasthan.
The contract includes design, supply, installation, and 25-year maintenance of rooftop solar projects in Jaipur (67 MW), Ajmer (5 MW), and Kota (5 MW). The installation phase is scheduled for completion within 18 months.
This award, combined with a recent ₹208.32 crore order from Zetwerk Manufacturing Business Private Limited, brings Insolation Energy’s total new contracts to ₹708.82 crore, surpassing their entire sales for the first half of FY 2024-25.
Under the agreement, ₹360.13 crore is allocated for the initial setup phase, while ₹140.37 crore is designated for maintenance over 25 years, with a 3 per cent annual escalation in maintenance fees starting from the second year after commissioning.
The project will be executed under the Hybrid Annuity Mode (HAM) and represents a significant expansion of solar power infrastructure across Rajasthan’s government facilities.
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