Alpex Solar Bags Rs 277cr Order For Solar Modules From PSU

Alpex Solar Bags Rs 277cr Order For Solar Modules From Indian PSU

Alpex Solar Limited has bagged an additional order to the tune of Rs 277.19 crore from a leading PSU for the supply of solar panels. The company had, earlier this month, bagged an order worth Rs 247.96 crore from the same PSU thereby taking the total quantum to Rs 525.15 crore.

The solar module manufacturing company is hopeful of completing the first order of Rs 247.96 crore by February 2025 while the Rs 277.19 crore project is likely to be completed by June 2025. Besides, Alpex had also received an order worth Rs 33.72 crore from another PSU for supply of solar panels which is estimated to be completed by December 2024. The company manufactures PV modules using monocrystalline and polycrystalline cell technologies and offers solar energy solutions, including engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.

Commenting on the additional order from the leading PSU, Ashwani Sehgal, Managing Director, Alpex Solar, said, “Just about a fortnight back we received two orders amounting to Rs 281.68 crore from leading PSUs and today we have received an additional order of Rs 277.19 crore from one of them. This speaks volumes about our continuous efforts and immense hard work to provide best-in-class service with a firm view on ensuring sustainable development. India is making significant strides in the field of green energy towards achieving its commitment of sustainable development goals and solar panels play a crucial role in combating greenhouse gas emissions and reducing our dependence on fossil fuels. This will help the country achieve its goal of net-zero emissions by 2070.”

India’s installed non-fossil fuel capacity has increased 396 per cent in a little over 8 years and stands at more than 198.75 GW (including large Hydro and nuclear), accounting for nearly 45 per cent of the country’s total capacity as of March 2024. India, which stands 4th globally in Renewable Energy Installed Capacity (including Large Hydro), has set an enhanced target at the COP26 of 500 GW of non-fossil fuel-based energy by 2030.

“Moving forward, it will be our endeavour to play a significant role in the country’s journey towards reducing dependence on fossil fuel by partnering with several enterprises, both in the public and private sector space, to help them achieve their green energy goals,” Sehgal added.

The Greater Noida based company had also announced its foray into the manufacturing of solar cells. The company will set up a 1.6 GW capacity plant at Kosi Kotwan, Mathura, at an estimated project cost of Rs. 642 crore. The expansion will be completed in three phases, with the first 500 MW expected to come on stream by October 2025. The remaining two phases will be completed by April 2026 and September 2026, respectively. The company has been betting big on the renewable energy sector, recently incorporated a subsidiary company – Alpex GH2 Private Ltd (AGPL) to foray into green energy business.