Solarium Green Energy has won a contract from NTPC Vidyut Vyapar Nigam (NVVN) to install 6,929 kW grid-connected rooftop solar projects at various locations of central armed forces and departments under the Ministry of Home Affairs in Uttar Pradesh (Zone 4).

The scope of work includes design, engineering, supply, civil construction, erection, testing, commissioning, and grid interfacing within 240 days from the date of notice of award. Solarium must handle the system’s operations and maintenance duties for ten years.

NVVN plans to finance this package through external commercial borrowings, domestic commercial borrowings, or its own sources.

The contract value is ₹215.43 million (~$2.48 million).

Solarium recently went public, with its initial public offering subscribed 8.83 times. The retail portion of the issue was subscribed 5.07 times, while the issue was subscribed 18.04 times in the non-institutional investors’ category. The qualified institutional buyers had subscribed by 8.51 times the allotted portion.

The company had disclosed in its draft red herring prospectus that it has completed 8,506 residential rooftop solar projects, 152 commercial and industrial projects, and eight government projects in the last three financial years. It manages 41 projects worth ₹ 1.65 billion (~$19.38 million). Solarium also offers solar products, including solar modules, inverters, and availability-based tariff meters.

Recently, NVVN issued tenders for the engineering, procurement, and construction of 4 MW grid-connected rooftop solar power projects at the Defence Research and Development Organisation campuses in Delhi and Bengaluru.

In November 2024, NVVN invited bids for grid-connected rooftop solar systems with a cumulative capacity of 7.2 MW in 26 buildings under Assam Rifles in Nagaland, Manipur, and Assam.

In October 2024, NVVN invited bids to develop 4.73 MW grid-connected rooftop solar systems at various locations under the Bhakra Beas Management Board.

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