Insolation Energy forms two new SPVs for solar plant development

Insolation Energy Limited, through its wholly-owned subsidiary Insolation Green Energy Private Limited, has incorporated two new wholly-owned step-down subsidiaries: GRMJ Green Infra Private Limited and RJGM Green Infra Private Limited. Both entities were established on October 7, 2025, as special purpose vehicles (SPVs) for setting up solar power plants. Each SPV has an authorized share capital of INR 100,000, divided into 10,000 equity shares of INR 10 each, with 100% equity shares subscribed by Insolation Green Energy Private Limited.

These newly formed SPVs will engage in the business of solar power plant development, including erection, installation, establishment, construction, operation, maintenance, and consultancy for renewable energy power plants. Their activities will also encompass design, supply, erection, testing, and commissioning, along with comprehensive Operation and Maintenance (O&M) of Rooftop Solar (RTS) photovoltaic power projects. The incorporation of these SPVs is considered a related party transaction for the company.

As of their incorporation date, the SPVs have yet to commence business operations, with no prior turnover history. This strategic move aligns with Insolation Energy’s objective to expand its presence in the solar industry.