Insolation Green Energy Private Limited Incorporates Three Wholly-Owned Subsidiaries as Special Purpose Vehicles for Solar Power Plants

Insolation Green Energy Private Limited, a wholly owned subsidiary of Insolation Energy Ltd, has incorporated three wholly-owned subsidiaries, namely NVJG Green Infra Private Limited, PGNJ Green Infra Private Limited and SRGE Green Infra Private Limited. These companies have been incorporated as special purpose vehicles (SPVs) for the purpose of setting up solar power plants. The initial subscription payable by the subscribers to the SPVs is not a related party transaction for the Company as the Company is not a party to the same. The SPVs will carry on the Business of Solar Power Plant Development, erection, installation, establishment, construction, operation and maintenance, and Consultancy of any renewable Energy Power Plants. Design, Supply, Erection, Testing and Commissioning, including comprehensive Operation and Maintenance (O&M) of Rooftop Solar (RTS) photovoltaic power Projects. Each SPV is incorporated with a subscription amount of Rs. 1,00,000 lakh (Rupees One lakh) and 100% Equity shares subscribed by Insolation Green Energy Private Limited, a wholly owned subsidiary of the Company.