Stock Report

AHAsolar Technologies Ltd secures prestigious order

Posted On : 2024-10-10 23:18:49( TIMEZONE : IST )

AHAsolar Technologies Limited, the driving force behind a remarkable transformation in the solar PV space, is excited to announce that it has secured the prestigious contract to develop the digital ecosystem and to contribute to the technological deployment of the World's Biggest Rooftop program of Govt of India for the PM Surya Ghar: Muft Bijli Yojana with the order slated for execution by March 2025.

This transformative project, designed to solarize 1 crore households across India, will be implemented by REC Limited, a National Programme Implementation Agency appointed by Ministry of New and Renewable Energy, Govt. of India and will facilitate the country's transition to green energy by providing millions of citizens with access to clean, aƯordable power.

Having actively engaged with and supported various government nodal agencies in this regard, to meaningfully contribute to the cause, Ahasolar Technologies Ltd has been, last week, formally awarded this prestigious contract encompassing:

Streamlining the processes of the PM Surya Ghar: Muft Bijli Yojana to develop the ecosystem for implementation of the programe in India

National Rooftop PV Portal Development: AHAsolar will develop a digital ecosystem. This portal will serve as the foundation for implementing the PM Surya Ghar: Muft Bijli Yojana, providing a seamless, integrated experience for residential prosumers. Fully connected with State DISCOM portals, it will manage key processes such as net metering, load sanctions, and inspections, ensuring a smooth, harmonized journey for consumers at every stage of their rooftop solar installations.

Digital Platform: Beyond implementation, the National Portal will act as a public platform, enabling applications, financial intermediaries, e-commerce platforms, vendors, manufacturers, service providers with the national Portal. This will create a broader ecosystem of services available to citizens, including eƯicient subsidy management at the national level.

Development of an Online Digital Platform of National Rooftop PV Portal for REC Limited. The National Portal is to provide a backbone for the implementation of the PM Surya Ghar: Muft Bijli Yojana.

Capacity Building and Best Practices: To ensure the success of the PM Surya Ghar initiative, AHAsolar will conduct workshops on capacity building and international best practices in rooftop PV installations. These workshops will engage key stakeholders such as solar installers, DISCOMs, and government nodal agencies. Furthermore, AHAsolar will develop a range of online and oƯline training programs to upskill the industry and maintain the highest installation standards across India.

Discom Coordination and handholding support.

The order is to be executed by end of March 2025. We are happy to announce that we are in an advanced level of preparedness to meet project execution expectations by several of the Government and Non-Government stakeholders in PM Surya Ghar: Muft Bijli Yojana.

Commenting on this significant achievement, Mr. Piyush Bhatt, Managing Director of AHAsolar Technologies Limited, stated, "This recognition further aƯirms AHAsolar's expertise and reliability in clean technology solutions. This achievement underscores AHAsolar's distinct and strategic position within the solar value chain. Our proven expertise and trustworthiness in clean technology & digital solutions have elevated our national profile, enabling us to engage more deeply with key stakeholders in India's energy transition. Since our inception as a start-up in Gujarat in 2017, we have been at the forefront of digitalizing the solar industry, developing cuttingedge platforms that streamline processes for government agencies, solar installers, and manufacturers. This journey has given us unparalleled insights into the complexities of the energy transition, including navigating technological challenges, government policy frameworks, supply chain dynamics, local market conditions, and consumer engagement. We extend our sincere appreciation to our partners for their continued trust and collaboration, and we remain committed to driving the digital transformation of the solar sector while advancing India's renewable energy goals."

The awarding of two contracts, one from German Development Corporation and another from REC Limited, within the span of a week, from the German Development Corporation and REC Limited under the PM Surya Ghar: Muft Bijli Yojana, is a clear testament to AHAsolar's commitment in the renewable energy sector. In one of the Contract, AHAsolar is the lead partner, with our consortium partner, M/s European Renewable Energies Federation. This also demonstrates our strong relationship with a highly regarded international fedration and underscores AHAsolar's growing influence in the global clean energy landscape.

Looking ahead, AHAsolar Technologies Limited is well-positioned for sustained growth and success. Our strategic investments in talent and technology enable us to seize new opportunities in the renewable energy sector, securing a sustainable future for our company, investors, clients, partners, and customers.

Shares of Ahasolar Technologies Limited was last trading in BSE at Rs. 350.00 as compared to the previous close of Rs. 343.50. The total number of shares traded during the day was 4800 in over 12 trades.

The stock hit an intraday high of Rs. 353.70 and intraday low of 333.20. The net turnover during the day was Rs. 1662580.00.