PVV Infra subsidiaries bag two solar power orders worth ₹799 crore

PVV Infra Ltd,an infrastructure company mainly intorooftop and ground-basedsolar powerinstallations, said its two subsidiaries have received twosolar powerorders valued at ₹799crore.

PVVEVTechPrivate Ltd, a subsidiary of the company hassigned a 25-yearPower Purchase Agreement (PPA) with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for a 100 MW solar power project at various locations in thedistricts ofBaghpatand Moradabad in thestate of Uttar Pradesh.

This project will be undertaken in Joint Venture withNacofOorjaPvtLtdwith a project costof about ₹384crore andan annual revenue of about ₹53crore, the company said.

PVV Housing Private Ltd, another subsidiary ofthe company ,also receivedEPC contract for a 109 MW solar power project in the state of Uttar Pradesh and in the districts ofBaghpatand Moradabad, in collaboration withNacofOorjaPvtLtd. The estimated value of the project is about ₹415crore.

Subsequently, the Board of Directorsalsoapproved a strategic decision to expand the company’s presence in the Renewable Energy sector through Special Purpose Vehicles (SPVs).

“This model, executed via subsidiary companies, enables focused execution of projects by geography and business vertical (Power Development and EPC), while improving operational efficiency and risk mitigation,” the company said.