Solarium Green Wins 7 MW Rooftop Solar Project from NVVN

22 Feb 2025 CW Team

Solarium Green Energy has secured a 6,929 kW grid-connected rooftop solar contract from NTPC Vidyut Vyapar Nigam (NVVN) for installations at various central armed forces and Ministry of Home Affairs departments in Uttar Pradesh (Zone 4). The project, valued at Rs 215.43 million, includes design, engineering, supply, civil construction, erection, testing, commissioning, and grid interfacing, to be completed within 240 days from the notice of award. Solarium will also manage operations and maintenance for ten years.

NVVN plans to finance the package through external commercial borrowings, domestic borrowings, or its own funds.

Solarium Green recently went public, with its initial public offering (IPO) subscribed 8.83 times. The retail segment saw 5.07 times subscription, non-institutional investors’ category was subscribed 18.04 times, and qualified institutional buyers subscribed 8.51 times the allotted portion.

As disclosed in its draft red herring prospectus, Solarium has completed 8,506 residential rooftop solar projects, 152 commercial and industrial projects, and eight government projects over the last three financial years. The company currently manages 41 projects worth Rs 1.65 billion and offers solar products like solar modules, inverters, and availability-based tariff meters.

In recent developments, NVVN has issued tenders for 4 MW grid-connected rooftop solar projects at Defence Research and Development Organisation (DRDO) campuses in Delhi and Bengaluru. In November 2024, it invited bids for 7.2 MW rooftop solar systems across 26 Assam Rifles buildings in Nagaland, Manipur, and Assam. In October 2024, NVVN sought bids for 4.73 MW rooftop solar systems under the Bhakra Beas Management Board.

(Mercom)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..