INA : RECEIVES RAJASTHAN INCENTIVE ENTITLEMENT WORTH OVER RS 179 CR

• Wholly owned subsidiary Insolation Green Energy gets RIPS-2022 entitlement certificate for solar module plant at Sawarda, Jaipur • Eligible fixed capital investment of Rs 179.12 Cr approved by State Level Screening Committee; turnover linked incentive at 1.98% including boosters • Maximum incentive claimable in first expansion phase works out to ~₹223.90 Cr, i.e. up to 125% of eligible fixed capital investment • Incentive to be claimed on eligible turnover each year and expected to be realised over ~9 years • Also entitled to 100% electricity duty exemption, annualised benefit seen at over ~₹1 Cr per annum • Company pursuing ~₹185 Cr of subsidy and incentive benefits for second expansion phase, documents already submitted

Insolation Energy Ltd

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