Ravindra Energy Announces Progress in Renewable Energy, Commences EV Business with FOTON

Ravindra Energy Ltd. has provided a business update, disclosing progress in their Renewable Energy and Electric Vehicle businesses. The 135 MW Rural Agri Feeder Project is progressing well, with 55MW commissioned and the rest scheduled for September 2025. Additional projects of 80 MW have been awarded in Maharashtra and Karnataka. C&I projects have signed 12 MW of PPA, with the sale of Wardha park (110 MW) and Karnataka park (65 MW) expected by September 2025. The Hingoli park (60 MW) is under construction. In the corporate update, all unrelated businesses have been closed and the voluntary winding up of the overseas subsidiary has been completed. In the Electric Vehicle business, REL's associate company, EIM, has entered into an exclusive agreement with global commercial vehicle leader FOTON for electric heavy commercial cargo vehicles in India. EIM will have exclusive rights to assemble and market FOTON’s advanced electric heavy-duty goods vehicles across India, and will build a battery swapping and charging network across India, supplying renewable energy for battery charging.