Sanghvi Movers Subsidiary Secures Rs. 429 Crore IPP Contracts
Filing Summary
Sangreen Future Renewables Private Limited, a material subsidiary of Sanghvi Movers Limited, has been awarded work orders valued at approximately Rs. 429 Crores. These contracts have been secured from various Independent Power Producers (IPPs) for Engineering, Procurement, and Construction (EPC) services related to wind power projects. The projects involve a 270.6 MW contract and are scheduled to commence in the third quarter of FY 2025-26, with completion expected by the first quarter of FY 2027-28. The contracts are domestic and do not involve related party transactions.
Sangreen Future Renewables Private Limited, a subsidiary of Sanghvi Movers Limited, has received significant work orders from Independent Power Producers (IPPs) valued at approximately Rs. 429 Crores. These contracts are for the provision of Engineering, Procurement, and Construction (EPC) services in the wind power sector.
The scope of the contracts includes the construction of Wind Turbine Generator (WTG) civil foundations, civil re-engineering works, leasing and development of temporary pathways, and the development of internal pathways and external logistics roads. Additional tasks involve the creation of crane platforms, crane boom assembly areas, and the intercarting of WTGs from storage yards to their respective locations. The contracts also cover the installation of WTGs, mechanical completion, pre-commissioning works, and internal 33Kv line works, as well as DP yards for the respective WTGs. Necessary permits and approvals specific to the commissioning of the projects are also included.
The contracts are domestic in nature, awarded by various IPPs, and do not constitute related party transactions. The projects are set to begin in the third quarter of the fiscal year 2025-26 and are expected to be completed by the first quarter of the fiscal year 2027-28.
Sanghvi Movers Limited is a prominent player in the crane rental industry, focusing on providing comprehensive lifting solutions. The company is committed to expanding its footprint in the renewable energy sector through its subsidiary, Sangreen Future Renewables Private Limited, by leveraging its expertise in large-scale project execution.