Australian Premium Solar (India) Ltd has secured a Letter of Award (LoA) from South Bihar Power Distribution Company Limited (SBPDCL) for setting up 16 MW of grid-connected rooftop solar projects in Bihar under the PM Surya Ghar-Muft Bijli Yojana.
The company disclosed the development through a filing with the NSE.
Shares of Australian Premium Solar were last trading at Rs 315.65, up 1.87% from the previous close of Rs 309.85. The company has a market capitalisation of Rs 636.35 crore and trades at a price-to-earnings ratio of 10.8.
Project details
The order covers rooftop solar installations in SBPDCL’s Gaya Circle.
Key highlights include:
- Capacity: 16 MW.
- Consumers covered: 14,185.
- System size: 1.1 kW per installation.
- Scheme: PM Surya Ghar-Muft Bijli Yojana.
- Execution model: Utility-Led Aggregation framework.
Revenue potential
The project follows a CAPEX-plus-RESCO model.
CAPEX component
The company will receive approximately Rs 68 crore in the first year for:
- Design.
- Supply.
- Installation.
- Commissioning.
RESCO component
Australian Premium Solar will receive about Rs 9 crore annually for the next ten years towards:
- Operations.
- Maintenance.
- Performance obligations.
Total revenue from the project is estimated at around Rs 158 crore over the contract period.
Long-term responsibilities
Unlike a conventional EPC contract, the RESCO model requires the company to maintain the systems for a decade.
The project involves servicing 14,185 residential rooftop installations, making performance and maintenance critical to ensuring recurring payments.
Government scheme
The PM Surya Ghar-Muft Bijli Yojana aims to install rooftop solar systems in 1 crore households.
Under the Utility-Led Aggregation model:
- State discoms act as project aggregators.
- Private companies execute installations.
- Consumers receive support through government subsidies.
SBPDCL manages electricity distribution across south Bihar.
Business overview
Australian Premium Solar is a Gujarat-based solar module manufacturer and EPC company.
According to the company, it has:
- Developed and manufactured more than 700 MW of solar panels.
- Contributed to reducing carbon emissions through its solar installations.
TL;DR
Australian Premium Solar has received a Rs 158 crore rooftop solar order from South Bihar Power Distribution Company. The 16 MW project will cover 14,185 consumers in Gaya district and includes a 10-year operations and maintenance component.
AI summary
- Australian Premium Solar secured a Rs 158 crore order from SBPDCL.
- The project covers 16 MW of rooftop solar capacity.
- Around 14,185 consumers in Gaya district will be served.
- The order includes a 10-year RESCO component.
- The project falls under the PM Surya Ghar-Muft Bijli Yojana.
