PVV Infra Ltd, a prominent infrastructure company specializing in both rooftop and ground-based solar power installations, proudly announced that its two subsidiaries have successfully secured solar power orders totaling an impressive ₹799 crore.
One of the key achievements includes PVV EVTech Private Ltd, a company subsidiary, entering into a 25-year Power Purchase Agreement (PPA) with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). This agreement is for a substantial 100 MW solar power project slated for development across various sites in the Baghpat and Moradabad districts of Uttar Pradesh.
This significant project, valued at approximately ₹384 crore, will be executed in a joint venture with Nacof Oorja Pvt Ltd and is projected to generate an annual revenue of around ₹53 crore.
Adding to its portfolio, PVV Housing Private Ltd, another subsidiary of PVV Infra, has been awarded an Engineering, Procurement, and Construction (EPC) contract for a 109 MW solar power project. This project is also located in Uttar Pradesh, specifically in the Baghpat and Moradabad districts, and will be carried out in collaboration with Nacof Oorja Pvt Ltd, with an estimated project value of about ₹415 crore.
Following these significant acquisitions, the Board of Directors has strategically decided to further expand the company’s presence within the burgeoning Renewable Energy sector. This expansion will be facilitated through the establishment of Special Purpose Vehicles (SPVs).
The company stated that this innovative model, implemented via subsidiary companies, ensures a focused and efficient execution of projects. It allows for tailored approaches based on geographical location and business vertical – encompassing both Power Development and EPC. This approach is expected to significantly improve operational efficiency and effectively mitigate potential risks, positioning PVV Infra as a key player in India’s renewable energy future.