Telangana-based solar project developer Soshe Power Tech has bagged the engineering, procurement and construction (EPC) contract for a 1 MW solar project from Indian Oil (IOCL) in Chittoor, Andhra Pradesh.

The value of the contract is ₹44.75 million (~$530 million).

Soshe Power will also have to undertake the operation and maintenance of the project for one year following construction and an additional four years of extended operation and maintenance support.

The project, which was won through a reverse auction recently, must be completed in six months.

Soshe Power specializes in single-axis tracker projects, floating solar projects, ground-mounted, and rooftop solar projects. It has been working on both Capex (Soshe Power provides 100% loans to consumers) and RESCO (a zero-investment model in which the consumer pays only for the electricity generated, while the solar project is owned by Soshe Power) models with financial institutions.

Recently, Soshe Power commissioned a 10 MW single-axis tracker EPC project in Assam and a 2 MW rooftop project in Kerala. It also commissioned a 1.9 MW ground-mounted solar project for HPCL in Karnataka. It is executing a 750 kW floating solar project in Bhavnagar, Gujarat, and two rooftop solar projects of 2.4 MW and 1.3 MW capacity.

Earlier this year, the company won an EPC contract for IOC’s 1 MW solar project in Haryana at ₹50.3 million (~$600,000). The scope of the contract includes the commissioning of the project and one year of comprehensive O&M services, with an additional nine years of extended support.

In 2023, Soshe won an EPC contract for Hindustan Petroleum Corporation (HPCL) for a 1.9 MW solar project in Karnataka. The company had quoted a contract value of ₹84.47 million (~$1.01 million) for the EPC and O&M works. The project will be developed at HPCL’s Hiriyur Intermediate Pigging Station for captive consumption at HPCL Neriya Station.