Bondada Engineering Ltd — Important, 27-07-2026: Company Update

Bondada Engineering has acquired a 60% controlling stake in Onix IPP Private Limited, securing a 225 MW solar power project in Maharashtra. This project, part of a government-backed agricultural solarisation scheme, includes a 25-year power purchase agreement with MSEDCL, projecting estimated annual revenues of approximately INR 150.48 Cr. This strategic move aligns with Bondada's goal of expanding its renewable energy asset ownership, generating predictable annuity-based revenues, and strengthening its portfolio of steady cash flows, complementing its existing Battery Energy Storage System assets.