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Sadbhav Futuretech Secures Rs 351 Crore Rooftop Solar Order Under PM Surya Ghar Scheme in Andhra Pradesh

Sadbhav Futuretech Limited has secured a 64.5 MWp grid-connected rooftop solar EPC order from the Government of Andhra Pradesh under the PM Surya Ghar: Muft Bijli Yojana, with a total contract value of approximately Rs 350.98 crore. The project has been awarded through the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) under the utility-led aggregation (CAPEX) model.

With this latest award, Sadbhav Futuretech’s cumulative rooftop solar orders from NREDCAP have crossed 90 MW, taking the company’s overall rooftop solar order book beyond Rs 850 crore. The development marks a significant expansion phase for the company in India’s rapidly growing distributed solar market.

Project Scope and Allocation

Under the Letter of Award (LOA) dated January 8, 2026, Sadbhav Futuretech’s joint venture has been selected as the successful bidder for the design, engineering, supply, installation, testing, commissioning, and five years of operation and maintenance (O&M) of 64.5 MWp rooftop solar systems for 32,249 Scheduled Caste (SC) and Scheduled Tribe (ST) consumers across Andhra Pradesh.

The capacity allocation spans multiple divisions under APEPDCL and APCPDCL, including:

• 27.08 MWp in Jangareddygudem
• 20.94 MWp in Narsapuram
• 16.48 MWp in Chirala

The projects will be executed in accordance with MNRE guidelines issued under the PM Surya Ghar scheme and in coordination with the respective APDISCOMs.

Commercial Terms and Execution Timeline

The total awarded contract value stands at Rs 350.98 crore, inclusive of GST. As per the LOA, Sadbhav Futuretech is required to:

• Execute EPC agreements with APDISCOMs within 15 days
• Submit the Bill of Materials (BOM) within one week
• Furnish a performance security equivalent to 5 percent of the total contract value

The entire scope of supply, installation, and commissioning for all rooftop systems must be completed within 180 days from the date of LOA issuance.

Joint Venture Structure

Sadbhav Futuretech Limited is the lead partner with an 80 percent equity stake in the joint venture. The remaining equity is held by Sunrise Enterprises (10 percent) and ADM Solar Power & Infrastructure (10 percent). All JV partners will be jointly responsible for project execution and contractual compliance.

Strategic Impact

The latest order significantly strengthens Sadbhav Futuretech’s position as a fast-growing solar EPC player, particularly in large-scale rooftop programs driven by government-led aggregation. The expanded order book supports the company’s transition into a high-growth solar EPC platform, with increasing focus on both rooftop and utility-scale solar projects.

The strong pipeline also reinforces Sadbhav Futuretech’s preparations for a proposed initial public offering (IPO) in FY27, which is expected to support capital expansion, technology upgrades, and long-term growth in India’s renewable energy sector.