ISGEC acquires stake in solar power entity for green energy needs

ISGEC Heavy Engineering Limited has entered into agreements to acquire a 26% equity stake in FPEL HR1 Energy Private Limited. This acquisition, finalized on October 6, 2025, involves a solar power purchase agreement and a share subscription and shareholders' agreement. The investment aims to meet ISGEC's green energy needs and optimize energy costs through FPEL HR1 Energy's captive solar power plant in Sirsa District, Haryana.

The acquisition is a cash consideration valued at up to INR 2,24,32,000. FPEL HR1 Energy Private Limited, incorporated on August 19, 2025, is developing a 50 MWp DC / 75 MW AC solar project and is engaged in the generation and supply of solar power. The transaction is not classified as a related party transaction.

The completion of the acquisition is expected within 60 days from the execution date. This move aligns with ISGEC's commitment to sustainable energy practices.