Transrail Lighting to Buy 49% Stake in Solar Venture
POWER & RENEWABLE ENERGY

Transrail Lighting to Buy 49% Stake in Solar Venture

Transrail Lighting’s board has approved the proposed acquisition of a 49 per cent equity stake in NOPL Pace Green Energy for a cash consideration of Rs. 200 mn. The transaction remains subject to requisite approvals and completion of agreed conditions. The investment is intended to give Transrail financial and project management control under arrangements with Onix Renewable.

NOPL is developing a 990 MW AC solar portfolio in Maharashtra under the PM-KUSUM scheme. The portfolio is supported by a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company at Rs. 3.10 per unit. The indicative total project cost is approximately Rs. 39 bn.

The agreement allows Transrail to increase its shareholding in NOPL, potentially up to 100 per cent, subject to mutually agreed terms and applicable approvals. The proposed investment will therefore provide the company with the option to expand its participation in the renewable energy project over time.

Transrail also reported new orders worth Rs. 9.27 bn, primarily in its domestic power transmission and distribution business. Following these awards, the company’s order intake for the year rose to Rs. 33.56 bn. The orders mainly comprise engineering, procurement and construction projects involving domestic 765 kV and 400 kV transmission lines.

The company also received conductor supply orders for the United States market as part of the latest wins. On October 14, it had announced new orders worth Rs. 4.08 bn. Transrail’s shares were quoted at Rs. 484.90 on the BSE at 9:18 am on October 21, up Rs. 34.20, or 7.59 per cent, from the previous close, as investors assessed the renewable energy acquisition and order additions.

Transrail Lighting’s board has approved the proposed acquisition of a 49 per cent equity stake in NOPL Pace Green Energy for a cash consideration of Rs. 200 mn. The transaction remains subject to requisite approvals and completion of agreed conditions. The investment is intended to give Transrail financial and project management control under arrangements with Onix Renewable. NOPL is developing a 990 MW AC solar portfolio in Maharashtra under the PM-KUSUM scheme. The portfolio is supported by a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company at Rs. 3.10 per unit. The indicative total project cost is approximately Rs. 39 bn. The agreement allows Transrail to increase its shareholding in NOPL, potentially up to 100 per cent, subject to mutually agreed terms and applicable approvals. The proposed investment will therefore provide the company with the option to expand its participation in the renewable energy project over time. Transrail also reported new orders worth Rs. 9.27 bn, primarily in its domestic power transmission and distribution business. Following these awards, the company’s order intake for the year rose to Rs. 33.56 bn. The orders mainly comprise engineering, procurement and construction projects involving domestic 765 kV and 400 kV transmission lines. The company also received conductor supply orders for the United States market as part of the latest wins. On October 14, it had announced new orders worth Rs. 4.08 bn. Transrail’s shares were quoted at Rs. 484.90 on the BSE at 9:18 am on October 21, up Rs. 34.20, or 7.59 per cent, from the previous close, as investors assessed the renewable energy acquisition and order additions.

Related Stories

Gold Stories

Next Story
Real Estate

Danube's Gauri Khan-designed penthouses sell out at launch

Danube Properties has announced the sell-out of all Gauri Khan-designed penthouses at Shahrukhz Residences, its fully furnished waterfront residential development in Dubai Maritime City. Each penthouse was priced at Rs 500 million (INR 50 crore). The project was unveiled at a launch event at Coca-Cola Arena, Dubai, on 11 November, attended by Danube Group Founder and Chairman Rizwan Sajan, Shah Rukh Khan and Gauri Khan.The event, hosted by filmmaker Karan Johar, marked the second collaboration between Sajan and Shah Rukh Khan. The residential development follows the launch of the Shahrukhz com..

Next Story
Real Estate

Danube's Gauri Khan-designed penthouses sell out at launch

Danube Properties has announced the sell-out of all Gauri Khan-designed penthouses at Shahrukhz Residences, its fully furnished waterfront residential development in Dubai Maritime City. Each penthouse was priced at Rs 500 million (INR 50 crore). The project was unveiled at a launch event at Coca-Cola Arena, Dubai, on 11 November, attended by Danube Group Founder and Chairman Rizwan Sajan, Shah Rukh Khan and Gauri Khan.The event, hosted by filmmaker Karan Johar, marked the second collaboration between Sajan and Shah Rukh Khan. The residential development follows the launch of the Shahrukhz com..

Next Story
Building Material

Big 5 Global to showcase Indian manufacturing capabilities

Big 5 Global 2026 will bring together international construction suppliers and buyers at the Dubai World Trade Centre from 23 to 26 November, providing Indian manufacturers an opportunity to expand their presence in the Middle East, Africa and South Asia (MEASA) markets. The event will host more than 1,800 exhibitors from over 60 countries, showcasing 55,000 products, services and solutions. International companies will account for 70 per cent of the exhibitor base.With India's construction market projected to reach USD 1.1 trillion by 2031, growing demand for infrastructure, housing and susta..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code