Ausom Enterprise Limited — New Orders, 11-11-2024: Bagging/Receiving of orders/contracts

Ausom Enterprise Limited has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited for a solar photovoltaic power procurement project through a competitive bidding process. The contract, valued at a capacity of 50 MW, comes with a tariff rate of Rs. 2.55 per KWh and has a duration of 25 years. To facilitate this project, Ausom plans to establish a 100% subsidiary as a Special Purpose Vehicle (SPV), which may be registered under either the name Ausom Power Private Limited or Ausom Energy Private Limited, subject to ministry approval. This strategic move positions the company to tap into the renewable energy market, indicating a positive outlook and potential growth as it ventures into solar power generation. Investors should keep a close watch on the developments surrounding this project and its implications for future revenue streams.