We are amongst the top 10 renewable energy independent power producers in India in terms of our Total
Capacity as at December 31, 2024 with a focus on complex renewable energy projects.
Proven ability to secure land and establish robust connectivity well in advance.
We have long-term power purchase agreements with central and state government off-takers and fixed
tariff structures, enabling long-term and stable cash flows.
We have a track record of delivering projects ahead of schedule which is backed by our end-to-end inhouse
capabilities in developing and operating renewable energy projects.
Established supply chain de-risking strategy, ensuring timely procurement and quality of the critical
components.
Experienced and committed Promoters, credible financial partners and a dynamic team guided by
experienced leadership.
A significant portion of our revenue from operations is derived from the sale of electricity generated at our projects and our top two off-takers collectively contributed 86.06%, 91.11% and 97.00% of our revenue from operations for Fiscals 2026, 2025 and 2024, respectively. The loss of any such key commercial relationships could adversely affect our business, results of operations, financial condition and cash flows.
Our business is dependent on suppliers for the procurement of critical components, equipment, material and other goods for the operation of our projects as well as for other business operations. Our top 10 suppliers collectively contributed to 84.42%, 79.99% and 87.52% of our total purchases for Fiscals 2026, 2025 and 2024, respectively. Interruptions in the supply of our critical components and other goods could adversely affect our business operations, financial position and cash flows.
Our Corporate Promoter, Juniper Renewable Holdings Pte. Ltd. has encumbered some of its Equity Shares in favor of the Indian Renewable Energy Development Agency Limited. In the event that any encumbrance is enforced, it may dilute the shareholding of our Corporate Promoter, which could adversely affect our business and reputation.
Our renewable energy projects are located in the states of Gujarat, Maharashtra, Rajasthan and Madhya Pradesh. Any change in governmental policies or occurrence of natural disasters in any of these states may impact our business, cash flows, financial condition and results of operations.
Our development of renewable energy projects may be restrained by our inability to identify or acquire suitable land sites. If we are unable to identify suitable land on commercially acceptable terms, our ability to develop new renewable energy projects on a timely basis or at all might be affected, which could result in the imposition of liquidated damages and/or reductions in tariffs which could adversely affect our business, financial condition, cash flows and results of operations.
Our business is subject to environmental conditions, seasonal fluctuations and natural calamities that may have an adverse impact on our business, financial condition, cash flows and results of operations.
We have in the past entered into a number of related party transactions and may continue to enter into related party transactions in the future that may involve conflicts of interest.
The reduction, modification or cancellation of government and economic incentives may reduce the economic benefits of our existing renewable energy projects and our opportunities to develop or acquire new renewable energy projects.
We do not own a majority of the land on which our projects are located or will be located and our Registered Office and our Corporate Office are leased. If these leases or sub-leases are terminated or not renewed on terms acceptable to us, it could adversely affect our business, results of operations and cash flows.
A portion of the Net Proceeds is proposed to be utilized for repayment or prepayment of certain loan facilities availed by our Company from The Hongkong and Shanghai Banking Corporation Limited which is an affiliate of HSBC Securities and Capital Markets (India) Private Limited, one of the Book Running Lead Managers.
