GRE Renew bags Rs 175 crore solar EPC order from Solarium
GRE Renew Enertech Limited (formerly GRE Renew Enertech Private Limited) has received a Letter of Award (LOA) from Solarium Green Energy Limited for the turnkey development of a utility-scale ground-mounted solar photovoltaic project. The contract, valued at Rs 175 crore excluding applicable taxes, covers Engineering, Procurement and Construction (EPC) works for an approximately 50 MW AC / 65 MW DC solar project along with three years of Operation and Maintenance (O&M) services.
Project scope
The EPC contract includes engineering, procurement and construction of the solar project, along with associated civil, structural, electrical and allied infrastructure. The company will also provide O&M services for three years after project completion.
The total contract value comprises Rs 170 crore for EPC works and Rs 5 crore for O&M services. The project will be executed according to the schedule specified in the LOA.
GRE Renew Enertech stated that the order has been received in the ordinary course of its EPC business and does not involve entry into any new business segment. The company also clarified that the transaction is not a related-party transaction and that no promoter or group company has any interest in the award.
Earlier in April this year, GRE Renew Enertech secured a domestic EPC order worth Rs 4.32 crore, inclusive of taxes, from Souraj Energy Private Limited for a grid-connected ground-mounted captive solar power project with a capacity of 1,250 kW DC / 900 kW AC.
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