INA Solar Arm Secures LoI for 109.79 MW Solar Projects from JVVNL Under PM KUSUM Yojana
Insolation Energy’s (INA Solar) subsidiary Insolation Green Energy has secured a Letter of Intent from Jaipur Vidyut Vitran Nigam Ltd. (JVVNL) to develop 109.79 MW of solar power projects across 58 sites under PM-KUSUM, with an estimated investment of INR 380 crore.
June 30, 2025. By Mrinmoy Dey
The contract will lead to an investment of approximately INR 380 crore (including GST) in setting up the 109.79 MW SPV Solar Power plants, the company stated in a regulatory filing.
The scope of work includes design, survey, supply, installation, testing, commissioning along with operation and maintenance for 25 years from COD of grid-connected solar power plants through RESCO Mode, its associated 11 KV line to connect the plant with various 33/11 KV sub-stations and remote monitoring system (RMS) of solar power plants.
The projects will be executed by the end of the first quarter of the financial year 2026–27, said the company.
It further added that the final levelized tariff shall be INR 2.55 per unit for 51 sites, INR 3.037 per unit for 6 sites, and INR 3.04 per unit for 1 site. Once completed, the projects are expected to generate about 17.56 crore units per year generating an annual revenue to the tune of about INR 45.82 crore.
In FY25, INA Solar has reported an 80.9 percent increase in its revenue from operations to INR 1,338 crore up from INR 737.2 crore in FY24. The company's profit after tax (PAT) has increased to INR 126.2 crore in FY25 from INR 55.5 crore in FY24, marking an increase by 127.5 percent.
The company continues to prioritise backward integration and hence, the company is setting up a 3 GW solar cell line and 54,000 MT aluminium frame capacity expansion in Narmadapuram, Madhya Pradesh.
The company is having a strong Order book of +2000 crore on consolidated basis across all verticals including module supplies, KUSUM projects, and EPC contracts across both government and private sectors.
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