Annu Projects Limited has executed a Memorandum of Understanding (MoU) with GEIE Solar Products India Private Limited for the procurement and supply of materials for a rooftop solar project. This project is part of the Jaipur Vidyut Vitran Nigam Limited (“JVVNL”) award. Annu Projects will handle material procurement and supply, while GEIE will manage project execution, installation, and operation. The agreement establishes a project account and payment mechanism.
Annu Projects Secures Solar Project Supply Agreement
Annu Projects Limited has announced the execution of a Memorandum of Understanding (MoU) with GEIE Solar Products India Private Limited. This agreement pertains to the procurement and supply of specified materials for a significant rooftop solar project awarded to GEIE by the Jaipur Vidyut Vitran Nigam Limited (“JVVNL”). The MoU marks a crucial step in expanding Annu Projects’ involvement in the renewable energy sector.
Key Roles and Responsibilities
Under the terms of the MoU, Annu Projects Limited is designated with the responsibility for the procurement and supply of all necessary materials. This includes solar PV modules, mounting structures, cables, inverters, and monitoring equipment, all subject to agreed purchase orders. Conversely, GEIE Solar Products India Private Limited will serve as the primary executing agency, managing the overall project execution, installation, commissioning, operation, and maintenance (O&M), along with fulfilling other award-related obligations.
Financial and Operational Framework
The agreement establishes a dedicated project account and outlines an agreed payment mechanism to facilitate the consideration for the supply of materials. This structured approach ensures a clear financial pathway for the project’s material procurement phase. The underlying JVVNL award has a total contract value of Rs. 44,30,56,000.
Agreement Clarifications
It is explicitly stated within the MoU that this arrangement does not create a partnership, joint venture, or agency relationship between Annu Projects Limited and GEIE Solar Products India Private Limited. Both parties are operating in their defined capacities to ensure the successful execution of the solar project.
Source: BSE
