GRE Renew Enertech Ltd. IPO

GRE Renew Enertech Limited is a company that specializes in providing solar energy solutions to industrial and commercial customers. We offer green energy solutions by installing on-site solar projects. Our business operations are primarily divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX model, we offer Engineering, Procurement, construction, and operation of solar projects. In this model, customer invest in the Capital Expenditure at their own and our Company does Engineering, Procurement, Construction, and Operation on behalf of the client. Under the RESCO model, agreement is entered into with roof-top owners. The rooftop owners may consume the electricity generated, for which they have to pay a pre-decided tariff to us as RESCO developer for the tenure of the agreement. In this model the assets (solar panels and installations) belong to Our Company. Under RESCO model, we may also develop ground mount project, in which case land for the project is owned by our Company, either on freehold or leasehold, as developer of the RESCO Project. Our Company in the past has not developed any major ground-mount project under RESCO model. However, under the RESCO Model, we have been planning to implement a 7.20 MW (AC) / 9.99 MW (DC) ground mounted solar power project.

Our Company is also an Indian manufacturer of Light Emitting Diode (“LED”) lighting solutions. However, since last few years the prime focus of our Company is in the Solar Energy segment only. The turnover from lighting business is less than 5% of the total turnover of our Company as per the last audited financial statements for the Financial Year ended March 31, 2025.