Transrail Lighting to take 49% stake in solar developer NOPL Pace Green Energy
Transrail Lighting's board approved a 49% stake purchase in NOPL Pace Green Energy for Rs 20 crore in cash. Completion depends on approvals and agreed conditions.
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what happened
Transrail Lighting's board has approved buying a 49% stake in NOPL Pace Green Energy for a cash payment of Rs 20 crore. The deal depends on required regulatory approvals and the fulfillment of agreed conditions, according to moneycontrol.com.
NOPL is building a solar project with 990 MW of alternating-current capacity in Maharashtra, supported by the PM-KUSUM government scheme. Its output is covered by a 25-year power sales contract with MSEDCL priced at Rs 3.10 per unit. The estimated total cost of the project is roughly Rs 3,900 crore.
Under the arrangement with Onix Renewable Limited, Transrail would gain financial and project-management control. The agreement also allows it to lift its holding possibly to 100%, on terms still to be agreed. Separately, the company won fresh orders worth Rs 408 crore on October 14, taking its order book to Rs 2,429 crore.
why it matters
The stake is small in value compared with the company's order book, so the direct market effect looks limited. Investors may watch the option to raise the holding toward full ownership, since it would change Transrail's role in a large renewable project.
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sources
- Transrail Lighting shares in focus on 49% equity acquisition in NOPL Pace Green Energy — moneycontrol.com, 21 October 2026 at 01:54 UTC
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