The project will cover four districts in the western Indian state and was awarded by Parmeshi Urja, a domestic renewable energy company based in Kolkata, West Bengal. The LoA was received by SEPC on the evening of June 10, the company said in an exchange filing.
Execution timelines will be finalized at kick-off meetings to be held at each location, the company added.
The project does not involve any related party transactions, and SEPC confirmed that its promoter or group companies do not hold any interest in the awarding entity.
SEPC, formerly known as Shriram EPC, is engaged in providing integrated engineering services across infrastructure sectors including renewable energy, water, and waste treatment.
Shares of SEPC Ltd ended up 3.7% in Wednesday trade ahead of the announcement.
