Solarworld Energy Solutions Limited announced that its wholly owned subsidiary, ZNShine Solarworld Private Limited, has signed a non-binding Memorandum of Understanding (MoU) with Intelenergi Global Private Limited on Tuesday, for cooperation in the marketing and supply of solar photovoltaic (PV) modules.
Under the agreement, the parties will collaborate in the marketing and supply of solar photovoltaic modules manufactured by ZNShine at its Roorkee facility. The MoU indicates an indicative capacity of 25 MW during its validity period.
As part of the arrangement, ZNShine will offer its solar modules for marketing to Intelenergi Global, supply modules manufactured at its Roorkee plant, facilitate exports, and allocate production subject to confirmed purchase orders.
Intelenergi Global will market the modules through the retail channel across India, develop export opportunities in approved markets, provide quarterly demand forecasts, and ensure compliance with brand and technical guidelines.
The company clarified that there is no shareholding between the parties. The agreement has been executed with a domestic entity and does not fall under related party transactions. Commercial consideration will be as per the terms of the MoU. No additional disclosures, including board nominations or conflicts of interest, were reported.
