Debt-free solar energy company is awarded a key contract for the World's Biggest Rooftop program of Government of India for the PM Surya Ghar: Muft Bijli Yojana
The stock is up by 77.5 per cent from its 52-week low of Rs 207 per share.
AHAsolar Technologies Limited has secured a significant contract to lead the development of the digital ecosystem for India’s largest rooftop solar program, the PM Surya Ghar: Muft Bijli Yojana. This ambitious project, aimed at providing affordable solar energy to 1 crore households across India, is part of the government’s initiative to promote clean and green energy. The project will be implemented by REC Limited, a national agency under the Ministry of New and Renewable Energy and is set to be completed by March 2025. Ahasolar will streamline key processes such as net metering, load sanctions and inspections, ensuring a smooth experience for consumers transitioning to solar energy. Their role in developing the National Rooftop PV Portal will be crucial in managing the entire program and connecting it with state DISCOM portals.
In addition to building the digital infrastructure, Ahasolar Technologies will create a public platform that will allow consumers, vendors, financial intermediaries, and manufacturers to interact seamlessly within the ecosystem. This will enable efficient management of subsidies and provide access to a wide range of services for the citizens. To ensure the success of the PM Surya Ghar initiative, Ahasolar will also focus on capacity building by conducting workshops that share international best practices in rooftop PV installations. The company will engage key stakeholders, including government agencies and solar installers, to ensure the highest standards of installation and operation. Their efforts will also include developing online and offline training programs to upskill industry professionals across India.
The award of two prestigious contracts, one from REC Limited and another from the German Development Corporation, marks a milestone for Ahasolar, highlighting their expertise in the renewable energy sector. With a strong partnership with the European Renewable Energies Federation, Ahasolar influence in the global clean energy landscape continues to grow. Looking forward, the company is well-positioned for sustained growth, driven by its strategic investments in talent and technology.
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Earlier, the company secured two significant consultancy contracts. The first, from Coal India Limited, involves providing owner's engineer-cum-project management services for a 300-MW solar photovoltaic power plant in Gujarat, valued at approximately Rs 110 lakh. The second, from GIZ GmbH, entails conducting a feasibility study and developing an implementation model for solar panel-based energy supply at their four material recovery facilities, valued at approximately Rs 18 lakh. Both projects demonstrate Ahasolar's expertise in solar energy consulting and their commitment to sustainable energy solutions.
On Friday, shares of Ahasolar Technologies Ltd hit a 5 per cent upper circuit to Rs 367.50 per share from its previous closing of Rs 350. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 207. The shares of the company saw a spurt in volume by more than 3.27 times on BSE.
Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalisation of over Rs 100 crore and is currently debt-free. The stock is up by 77.5 per cent from its 52-week low of Rs 207 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.