Source Natural Foods and Herbal Supplements Limited has approved a proposal to undertake a 1.782 MW (1,782 kWp) grid-connected rooftop Solar PV Project. This strategic move, operating under the RESCO/OPEX model, signifies the company’s diversification into the renewable energy sector. The project aims to develop, install, operate, and maintain the solar power generation facility, marking a significant step in expanding its business activities. Further disclosures will follow upon definitive agreement execution.
Source Natural Foods Ventures into Renewable Energy Sector
Source Natural Foods and Herbal Supplements Limited has announced a significant strategic initiative to diversify its business operations by venturing into the renewable energy sector. The company’s Board of Directors, in their meeting held on August 10, 2026, approved a proposal to undertake a 1.782 MW (1,782 kWp) grid-connected rooftop Solar PV Project.
Project Details and Business Model
The project will be developed under the RESCO/OPEX model, a framework that allows for the development, installation, operation, and maintenance of the solar power generation facility by the company. The company has already entered into a Term Sheet and Commercial Framework with a client, who will serve as the Power User/Client for this project. This initiative represents a key step in expanding the company’s business activities beyond its traditional segments.
The key details of the project include:
- Nature of Project: Grid-connected rooftop Solar PV Project
- Project Capacity: 1.782 MW (1,782 kWp)
- Business Model: RESCO/OPEX model
- Scope of Company: Development, installation, operation, and maintenance of the solar power generation facility, including project coordination and approvals.
Financial Results and Future Outlook
In addition to the solar project, the Board also considered and approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026, along with the Limited Review Report. The company views this solar project as a crucial opportunity to diversify and expand its business horizons, with further disclosures to be made upon the completion of requisite site inspections, feasibility studies, and the execution of definitive agreements, including the Power Purchase Agreement (PPA).
Board Meeting Outcome
The Board meeting, which commenced at 12:00 p.m. and concluded at 2:10 p.m. on August 10, 2026, also included the delegation of authority for the incorporation of Wholly Owned Subsidiaries/Subsidiary Companies to Mr. N Arvind Varchaswi, Managing Director, and Mr. Tejagna K Katpitia, Executive Director.
Source: BSE
