Godawari Power and Ispat Limited (GPIL) has approved the incorporation of a wholly owned subsidiary, Godawari Energy Solutions Private Limited (GESPL), in Maharashtra. The proposed subsidiary will focus on engineering, procurement and construction (EPC), turnkey, engineering, construction, erection, installation, testing, commissioning, operation and maintenance activities related to Battery Energy Storage Systems (BESS), renewable energy, power, electrical and allied infrastructure projects.
The proposed company, which will be incorporated in India with its registered office in Maharashtra, will operate in the other civil engineering/infrastructure projects sector. Its incorporation is currently under process.
Godawari Power & Ispat will hold 100% of the shareholding in the proposed subsidiary. The initial contribution will be ₹10 lakh, comprising 1 lakh equity shares with a face value of ₹10 each, subscribed at par. The consideration for the subscription will be paid in cash.
The new subsidiary is intended to undertake a broad range of activities covering the EPC and turnkey execution of BESS, renewable energy, power and electrical projects, along with associated infrastructure.
The proposed entity will be incorporated in Maharashtra, India, and the incorporation process is currently underway.
