Insolation Energy subsidiary forms five SPVs for solar expansion

Insolation Green Energy Private Limited (IGEPL), a subsidiary of Insolation Energy Ltd., announced the incorporation of five new wholly-owned step-down subsidiaries on October 3, 2025. These entities — EGRJ Green Infra Private Limited, GJPN Green Infra Private Limited, JGVR Green Infra Private Limited, HGJP Green Infra Private Limited, and PDGN Green Infra Private Limited — will serve as Special Purpose Vehicles (SPVs) for setting up solar power plants.

Each new SPV has an authorized share capital of Rs. 100,000, divided into 10,000 equity shares of Rs. 10 each. IGEPL will subscribe to 100% of the equity shares of each SPV. These newly incorporated entities will focus on the development, erection, installation, construction, operation, and maintenance of renewable energy power plants, including comprehensive Operation and Maintenance (O&M) of Rooftop Solar (RTS) photovoltaic power projects.

As of their incorporation date, the new SPVs have no turnover and are yet to commence business operations. Their establishment aligns with the solar industry and is classified as a related party transaction for Insolation Energy Ltd., given that the SPVs are promoted by its wholly-owned subsidiary.