Australian Premium Solar Secures Major 16 MW Rooftop Solar Order

Australian Premium Solar (India) Limited Bags Significant Renewable Energy Contract

Australian Premium Solar (India) Limited (APS), a prominent player in India’s renewable energy sector, has announced a substantial order win to bolster its project pipeline and revenues. The company recently received a Letter of Award (LOA) for the “Setting up of 16 MW Grid-Connected Rooftop Solar Projects under CAPEX plus RESCO mode.”

This pivotal contract, awarded by South Bihar Power Distribution Company Limited, falls under the ambitious PM Surya Ghar-Muft Bijli Yojana (PMSG-MBY), a government initiative promoting residential rooftop solar installations. The project encompasses 14,185 individual consumers, with each household receiving a 1.1 kW solar plant, totaling 16 MW capacity across the region.

The order is valued at an impressive INR 158 Crores (approximately USD 18.9 million). Its structure is noteworthy, combining an upfront CAPEX component of INR 68 Crores in the first year, followed by an additional INR 9 Crores annually for ten years under the RESCO model. This hybrid approach ensures not only immediate revenue recognition but also a stable, recurring income stream for APS over a decade, enhancing financial visibility and stability.

This order underscores APS’s growing capabilities and its alignment with India’s national agenda for sustainable energy. The PM Surya Ghar-Muft Bijli Yojana is expected to drive significant demand for rooftop solar solutions, and APS’s successful bid positions it favorably to capitalize on this expanding market. Investors will likely view this development as a strong indicator of the company’s operational strength and potential for sustained growth in the rapidly evolving Indian renewable energy sector.