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Transrail Lighting Enters Renewable Energy With Rs 20 Crore Solar Project Stake
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CNBC TV18•19-10-2026, 21:23
Transrail Lighting Enters Renewable Energy With Rs 20 Crore Solar Project Stake
- •Transrail Lighting Ltd has approved an investment of Rs 20 crore to acquire a 49 percent stake in NOPL Pace Green Energy Pvt Ltd.
- •NOPL is developing a massive 990 MW solar power portfolio in Maharashtra under the PM-KUSUM scheme to support agricultural electricity needs.
- •The project is secured by a 25-year power purchase agreement with MSEDCL at a fixed rate of Rs 3.10 per unit, with an estimated total project cost of Rs 3,900 crore.
- •The deal allows Transrail to expand beyond its core EPC business into renewable power generation with an option to increase its stake up to 100 percent.
- •Managing Director and CEO Randeep Narang noted that the investment broadens the company's footprint across the energy value chain and offers predictable long-term revenue.
Key Questions Answered
Transrail Lighting approved an investment of ₹20 crore to acquire a 49% stake in NOPL Pace Green Energy Pvt Ltd. Additionally, the investment arrangement provides Transrail with the option to increase its stake up to 100% subject to required approvals.
NOPL is developing a solar power portfolio with a capacity of approximately 990 MW (AC) located in Maharashtra. The project is part of the Centre's PM-KUSUM scheme to shift agricultural electricity connections to solar power for daytime irrigation.
The solar project is backed by a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Under this agreement, electricity will be supplied at a fixed rate of ₹3.10 per unit.
