Recent developments in India’s solar sector show a clear and balanced shift toward both utility-scale power generation and decentralized agricultural solutions. Together, these projects highlight how solar energy is being deployed across different layers of the economy—backed by long-term agreements, significant capital investment, and strong government support.
Large-Scale Solar Expansion in Karnataka
Ravindra Energy Limited (REL) has taken a major step in expanding solar power generation in Karnataka by securing a mandate for multiple Build, Own & Operate (BOO) solar projects.
Under this initiative, REL will set up Solar Power Generators (SPGs) with a combined capacity of 62 MW (AC). These projects will be spread across 13 substations under the Hubli Electricity Supply Company Limited (HESCOM), helping strengthen the regional power supply through clean energy.
The total capital investment for the project is estimated at ₹225 crore. Power generated from these plants will be sold at an average tariff of ₹2.95 per unit, providing long-term revenue visibility. REL will sign a 25-year Power Purchase Agreement (PPA), starting from the Commercial Operation Date, ensuring stable cash flows over the project’s lifetime. The company expects to commission the projects within 12 months of signing the PPA.
Solar Power Reaches the Farm Level
Alongside utility-scale generation, solar energy is also making a strong impact at the grassroots level through off-grid agricultural solutions. Latteys Industries Limited is executing a large distributed solar project focused on farmers in Maharashtra.
The project involves the supply and installation of 7,369 off-grid DC solar photovoltaic water pumping systems across the state. These systems are part of key government initiatives such as the PM-KUSUM B Scheme and the Magel Tyala Saur Krushi Pump Yojana, both aimed at promoting sustainable irrigation and reducing reliance on grid electricity and diesel pumps.
The total contract value for this project stands at ₹187.39 crore, covering the full scope of work—from design and manufacturing to installation, testing, and commissioning.
Common Regulatory and Governance Framework
Despite differences in scale and application, both types of solar projects operate within a similar regulatory and governance structure:
SEBI Regulation 30 compliance requires companies to disclose such material contracts to stock exchanges, ensuring transparency for investors.
Government-backed counterparties, such as HESCOM in Karnataka and MSEDCL in Maharashtra, provide stability and reduce counterparty risk.
Clean governance standards have been maintained, with companies confirming that promoters or promoter groups have no interest in the awarding entities and that the contracts are not related party transactions.
A Two-Pronged Solar Strategy
India’s solar journey today resembles a well-planned irrigation system. Utility-scale solar plants act like large reservoirs supplying clean energy to entire regions, while solar pumping systems function like individual water tanks at each farm, giving farmers energy independence.
Together, these projects reflect how India is building a resilient, inclusive, and sustainable solar ecosystem—one that powers industries, lights up homes, and supports farmers at the same time.