Alpex Solar Bags ₹349.99cr Solar Project from Coal India Subsidiary

Alpex Solar Bags ₹349.99cr Solar Project from Coal India Subsidiary

Alpex Solar Ltd. (formerly Alpex Solar Pvt. Ltd.) has secured a major consortium order worth ₹349.99 crore from Central Mine Planning and Design Institute Ltd. (CMPDI), a wholly owned subsidiary of Coal India Ltd. The company informed about the latest order in its filing before the National Stock Exchange (NSE).

The order procured by the solar company involves the design, engineering, procurement, construction, fabrication, installation, testing, and commissioning of a ground-mounted solar power plant at Nandan Washery, Kanhan Area, Western Coalfields Ltd. (WCL).

As part of the consortium executing the project, Alpex Solar holds a 70% share of the total contract value, underscoring its significant role in the initiative.

Fully domestic in scope

The project is fully domestic in scope and is classified as a commercial order. The expected execution timeline is 540 days from the date of the purchase order. Alpex Solar confirmed that the awarding entity is unrelated to its promoter or promoter group companies, and the transaction does not constitute a related party transaction, the firm said.

Public sector enterprises are expected to play a key role in the coming years in India’s renewable capacity additions. as most firms in the energy sector in particular have stepped up on efforts to meet ambitious targets. Coal India, as the largest coal mining firm in the world has made a special effort to try and mitigate emissions with an ambitious plan to add 3 GW of renewable capacity by 2030.

For Alpex solar, the order will be among the largest it has bagged in recent months, a reflection both of a larger market, its own capacity expansion that allows it to service such orders, and of course, the Indian market today where even 1GW orders are no longer a rarity.