Sharika Enterprises Secures Rs. 1.35 Crore Solar PV Order from Power Grid
Filing Summary
Sharika Enterprises Ltd has received an order from Power Grid Corporation of India Limited for the supply and installation of a 329 kWp rooftop grid-connected Solar PV system. The contract is valued at Rs. 1,35,68,800 and is to be executed within six months, including a comprehensive maintenance contract for five years. This order does not involve any related party transactions, and there is no interest from the promoter group in the awarding entity. The project is domestic, awarded by a government enterprise, and aligns with Sharika’s focus on renewable energy solutions.
Sharika Enterprises Ltd has announced the receipt of an order from Power Grid Corporation of India Limited, a government enterprise, for the supply and installation of a 329 kWp rooftop grid-connected Solar PV system. The order is valued at Rs. 1,35,68,800. The project is to be completed within a six-month timeframe, which includes a comprehensive maintenance contract for a period of five years.
The order from Power Grid Corporation is domestic and does not involve any related party transactions. There is no interest from the promoter or promoter group of Sharika Enterprises in the entity that awarded the contract. The scope of the contract includes the supply and installation of the solar PV system, which is part of the company’s ongoing efforts to expand its renewable energy solutions.
The details of the contract were disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was accompanied by the necessary documentation as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
Power Grid Corporation of India Limited is a government enterprise focused on the transmission and distribution of electricity across India. The company plays a significant role in the development of the national grid and is involved in various initiatives to enhance the country’s power infrastructure.
Sharika Enterprises Ltd specializes in providing engineering solutions with a focus on renewable energy projects. The company is committed to expanding its portfolio in the solar energy sector, aligning with global trends towards sustainable energy solutions. This order reinforces Sharika’s strategic direction in the renewable energy market.