Isgec Heavy Engineering Acquires 26% Stake in Solar Project for Green Energy Needs

Isgec Heavy Engineering Ltd. has entered the renewable energy space by acquiring a 26% stake in FPEL HR1 Energy Private Limited for up to ₹2.24 crore. The investment is part of its strategy to meet green energy targets and reduce power costs. The target company is setting up a 50 MWp DC / 75 MW AC solar power project in Sirsa, Haryana, on a captive basis. Isgec has signed both a Power Purchase Agreement (PPA) and a Share Subscription & Shareholders' Agreement, securing its stake and future access to solar power. The move supports Isgec’s sustainability goals and aligns with the broader industrial trend of adopting clean energy. Not classified as a related-party transaction, the deal reflects transparent governance under SEBI norms. This strategic step positions Isgec to benefit from long-term cost savings and energy security, while contributing to India’s clean energy transition.