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FINWIRES

Oswal Pumps Unit Forms SPV for Rajasthan Solar Projects

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-- Oswal Pumps (NSE:OSWALPUMPS, BOM:544418) said its wholly owned subsidiary, Oswal Solar Energy, has incorporated Oswal Doon Baran Bundi Solar Projects Ltd, according to a Thursday filing on Indian bourses.

The SPV has been formed to execute rooftop solar projects on state government buildings in Rajasthan under a hybrid annuity model, the filing said.

Oswal Solar holds 60% stake in the SPV, while Doon Infrapower Projects holds the remaining 40% stake, it added.

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