Solarworld Energy Solutions has secured an order worth Rs 806 crore for the development of battery energy storage systems, the company said in a regulatory filing on December 9.
Solarworld Energy new order: Key details
Gujrat Urja Vikas Nigam has awarded the contract to Solarworld for building 200 MW/400 MWh Battery Energy Storage Systems in Gujarat. The company signed the Battery Energy Storage Purchase Agreement with Gujrat Urja on December 8. The project is valued at Rs 806.4 crore (excluding taxes) and will be executed over a period of12 years.
Solarworld noted that the order was secured under domestic procurement norms. The promoter group has no interest in the awarding entities, and no related-party transactions are involved, the company clarified. The disclosure has been made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
Solarworld Energy: Share Price
The company was listed in late September, and its stock is currently trading below the listing price. Today, the shares closed at Rs 293.30, up 3% from the previous close, compared with its listing price of Rs 389. Over the past month, the stock has slipped nearly 4%.