APT Translations

The proposed IPO is a combination of a fresh issue of equity shares valued Rs 1,250 crore and an Offer for Sale (OFS) of equity shares worth Rs 2,400 crore by promoter Continuum Green Energy Holdings Ltd, according to the draft red herring prospectus (DRHP) filed on Monday.

The Gurgaon-based renewable energy company plans to deploy these modules in the coming financial year for its projects across Rajasthan, Gujarat and Maharashtra, a company statement said.

This investment will not only drive green manufacturing but also create millions of jobs, empowering lives across Rajasthan, he said.

According to a written reply to Rajya Sabha on Monday, setting up power generation plants in the country is a delicensed activity but if the capital expenditure exceeds Rs 1,000 crore, then the project requires the concurrence from Central Electricity Authority (CEA) under Electricity Act 2003.

The central government will work together with all stakeholders to boost the renewable energy sector, the minister said while addressing 'Rising Rajasthan: Transition towards a Sustainable Energy Economy' Summit in Jaipur, according to an official statement.

The move comes weeks after the Solar Energy Corporation of India (SECI) agreement with Andhra discoms became controversial after the US charged Adani Group chairman Gautam Adani in a years-long scheme to allegedly pay USD 250 million bribe to Indian officials including those from Andhra, in exchange for favourable solar power contracts in 2021 when the YSRCP was in power.

The system includes 100 per cent EL Testing, incorporating both pre and post-production stages with AI-assisted analysis.

These measures, the company said, are critical for addressing waste, water, and energy challenges effectively.

The remaining 225 MW of the project is expected to be completed by January 2025. The solar panels for the project were manufactured in Rajasthan and Gujarat.

The Indian government has supported and promoted solar cooking, and with continuous encouragement and an enabling environment, supportive policy can help scale up solar cooking to its full potential. Solar cooking, on a large scale, is done at religious sites that run community kitchens.