Transrail to Acquire 49% Stake in 990 MW Solar Portfolio for ₹20 Crore.

Proposed investment marks the company’s entry into renewable power generation, with an option to acquire full ownership.   Transrail Lighting has approved a proposed ₹20 crore investment to acquire a 49% equity stake in NOPL Pace Green Energy, providing exposure to a 990 MW solar power portfolio under development in Maharashtra. Announced on October 20, the acquisition is subject to requisite approvals and fulfilment of agreed conditions. The portfolio is being developed under Component C of the Centre’s PM-KUSUM scheme, which supports agricultural feeder solarisation and daytime electricity supply for irrigation. The project is backed by a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company (MSEDCL) at a fixed tariff of ₹3.10 per unit. Its indicative total cost is approximately ₹3,900 crore, with debt financing sanctioned subject to applicable conditions. Transrail will initially hold 49%, with flexibility to increase its stake to 100% under agreed terms. Managing Director and CEO Randeep Narang said the move advances the company’s transition from EPC services towards integrated energy solutions and long-term power generation revenues.