-- 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.