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Dynamic Services & Security Limited (DSSL) has received an offer letter from the Maharashtra government to set up a ₹1,080-crore solar PV manufacturing project under the state’s Package Scheme of Incentives (PSI) 2019.
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The project, with a capacity of 1,800 MW, will be established in MIDC Villebhagad, Raigad district.
Earlier in August, the company had disclosed its plans to collaborate with Sungevity Enterprises to develop a 100 MW solar power plant in Manipur through a special purpose vehicle (SPV).
Dynamic Services will hold an 85% stake in the SPV, with the construction expected to commence upon finalising a power purchase agreement. The company plans to invest ₹2.5 crore in acquiring 400 acres of land for the project.
Also read: Cyient DLM signs MoU with Arcedo Systems for 500 kWp rooftop solar plant in Mysore
Separately, DSSL signed a memorandum of understanding (MoU) in August to acquire Bharat Battery Manufacturing Co for ₹45 crore, subject to certain conditions outlined in the agreement.
The stock closed at ₹373.65, up 1.96% on Tuesday (December 3), after touching a new 52-week high during the session. It has delivered an impressive three-year return of 887.87%, significantly outperforming the Nifty Smallcap 100’s 74.06% gain over the same period.
Also read: Solar Industries targets ₹1,500 crore in revenue from defence this year
(Edited by : Shoma Bhattacharjee)
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