Power and Instrumentation Gujarat bags Rs 17cr solar EPC contract

Power and Instrumentation (Gujarat) Limited, a trailblazer in India’s electrical contracting and equipment sector, has taken a major stride in renewable energy. The company has won a work order worth ₹17.07 crore from A2 Green Energy Private Limited for a 5 MW (AC) solar power project in Latur District, Maharashtra.

This significant contract encompasses the supply, installation, testing, and commissioning of solar power plant infrastructure. The project, scheduled for completion within 18 months, demonstrates Power and Instrumentation’s commitment to solar energy development in India, aligning with the country’s clean energy agenda.

Why is this solar project significant for India’s renewable energy growth?

India has been at the forefront of the global renewable energy transition, with solar power forming a cornerstone of its strategy. As the government continues to promote solar EPC projects through various initiatives, Power and Instrumentation’s entry into this market signals a strategic move to support the national clean energy mission.

“This project represents a significant milestone for us,” stated Padmaraj Padmanabhan Pillai, Managing Director of Power and Instrumentation (Gujarat) Limited. “It marks our foray into the Solar EPC domain, reinforcing our expertise and expanding our capabilities in the renewable energy sector.”

How does Power and Instrumentation’s expertise support this project?

With nearly five decades of experience, Power and Instrumentation has built a reputation for precision and quality in electrical engineering services. The company has successfully executed large-scale projects across various sectors, including:

• Electrification of over 100,000 households in rural India.
• Laying more than 20,000 km of high-tension (HT) and low-tension (LT) power lines.
• Completing 35 airport electrification projects.

Its extensive portfolio reflects a strong foundation to handle the technical and logistical complexities of solar power installations. By entering the renewable energy market, Power and Instrumentation is leveraging its proven expertise to meet growing demand for sustainable energy solutions.

How will this project impact Power and Instrumentation’s market position?

The ₹17.07 crore project is expected to enhance the company’s presence in the dynamic solar energy market. By securing this order, Power and Instrumentation demonstrates its readiness to take on renewable energy projects of significant scale, opening doors for more contracts in this sector.

Financially, the company has been on a stable growth trajectory. For FY24, Power and Instrumentation reported:

• Total revenue of ₹102.03 crore.
• EBITDA of ₹12.36 crore.
• Net profit of ₹5.93 crore.

Having migrated to the main boards of both the NSE and BSE in 2023, the company has solidified its standing among investors. Analysts predict that this contract will positively impact Power and Instrumentation’s market performance, further boosting investor confidence.

What does this mean for India’s clean energy ambitions?

India has set an ambitious target to achieve 500 GW of renewable energy capacity by 2030, with solar power accounting for a major share. Projects like the 5 MW (AC) installation in Maharashtra highlight the critical role private companies play in achieving this vision.

The Latur project will help reduce carbon emissions and contribute to sustainable development by replacing conventional energy sources with solar power infrastructure. Such initiatives underscore the potential of partnerships between established firms like Power and Instrumentation and emerging renewable energy players.

What challenges does the solar EPC sector face?

• Despite the growing interest in solar power, the sector faces challenges such as:
• Dependence on imported solar modules, raising costs.
• Regulatory hurdles that delay project timelines.
• The need for robust transmission infrastructure to manage increasing solar capacity.

Companies like Power and Instrumentation are well-equipped to navigate these issues, thanks to their experience in handling large-scale infrastructure projects and delivering on time.

About Power and Instrumentation (Gujarat) Limited

Founded in 1975, Power and Instrumentation (Gujarat) Limited has become a trusted name in electrical contracting and EPC solutions. The company specializes in designing, supplying, and maintaining energy-efficient systems across industries.

Its portfolio includes:

• Construction and maintenance of substations.
• Installation of power backup systems.
• Distribution panels, lighting solutions, and building management systems.

By foraying into Solar EPC projects, Power and Instrumentation is expanding its capabilities to support India’s renewable energy transition.