Source Natural Foods Transfers 2 MW Solar PV Project to Subsidiary, Approves Incorporation of New WOS in Karnataka

Source Natural Foods and Herbal Supplements Ltd, at its board meeting held on March 6, 2026, approved the transfer of a 2 MW grid-connected Solar PV power project under the PM-KUSUM (Component-A) Scheme in the State of Odisha to its wholly owned subsidiary, Source Natural Solar Private Limited. The board also approved the grant of land usage rights to Source Natural Solar Private Limited for the Odisha Solar Project and entering into an EPC Contract with the subsidiary for the development, implementation, running and maintenance of the project. Furthermore, the board approved the incorporation of a new wholly owned subsidiary company in the State of Karnataka. The transfer is part of the company's business strategy to house specific renewable energy projects under dedicated Special Purpose Vehicles (SPVs) for efficient project management, financing, and operations.