GK Energy Secures ₹454.50-Crore Solar Empanelment, One Lakh Homes Set For Rooftop Systems
· Free Press Journal
Mumbai: GK Energy Limited has secured a rooftop solar empanelment valued at about Rs 454.50 crore, including goods and services tax, from a leading state government-owned power distribution utility.
Visit afrikasportnews.co.za for more information.
The Pune-based company informed the BSE and National Stock Exchange that it had received a Letter of Empanelment for grid-connected rooftop solar photovoltaic projects. The contract is domestic and will be executed on a one-time basis.
Large Allocation
Under the empanelment, GK Energy has been allocated 1,00,000 rooftop solar projects, each with a capacity of 1 kilowatt. Together, the installations will provide 100 megawatts of distributed solar capacity across 1,00,000 households.
The contract rate has been fixed at Rs 45,450 per kilowatt, including GST. On that basis, the overall value of the allocation is estimated at Rs 454.50 crore, inclusive of tax.
The programme represents a sizeable residential solar deployment, combining decentralised clean-energy generation with household-level grid connectivity. It also expands GK Energy’s execution pipeline in India’s fast-growing rooftop solar market for investors tracking renewable infrastructure growth.
Full Scope
The company’s responsibilities cover design, engineering, equipment supply, installation, testing and commissioning of the grid-connected rooftop photovoltaic systems.
GK Energy's Rs 465-cr IPO opens on Sep 19GK Energy will additionally undertake operations and maintenance for five years, extending its role beyond project delivery to the longer-term performance and upkeep of the installed assets.
Each project must be completed within 60 days from the issuance of the respective work order, according to the regulatory disclosure.
Governance Details
GK Energy said neither its promoters, promoter group nor group companies have any interest in the utility awarding the work. The contract also does not constitute a related-party transaction.
GK Energy Q4 Profit Rises To ₹60.8 Crore As Revenue Surges 57%The company disclosed the development under Regulation 30 of the Securities and Exchange Board of India’s listing obligations and disclosure requirements.
The utility’s identity was not revealed in the exchange filing. GK Energy said details of the announcement had also been made available on its website. The filing was signed by company secretary and compliance officer Shubham Suresh Jain.
Disclaimer: This article is based on company disclosures and is intended solely for information purposes, not as investment advice or recommendation.