Swelect Energy Systems Limited given an approval for incorporating a Wholly Owned Subsidiary (WOS) in the name and style, `ESG Green Energy Private Limited' (based on the name availability letter dated 15 May 2024, issued by the Ministry of Corporate Affairs, Office of the Registrar of Companies, Central Registration Centre) and the WOS will engage in setting up of solar power plant. Once the proposals received from the industrial consumers have been materialized, the electricity generated by the WOS will be sold to the industrial consumers around Tamil Nadu based on the requirements of the respective consumers. The Board also approved the investment of INR 1.00 Lakh (Rupees One Lakh Only) in the Equity Capital of the said WOS.

The Solar Power Plant will be set up under Group Captive Scheme through Intra State Open Access System. Listed below the key approvals that are required to set up a Solar power Plant. 1) Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), Government of Tamil Nadu.

2) Chief Electrical Inspectorate General (CEIG), Government of Tamil Nadu. The above investment is purely for forming a Wholly Owned Subsidiary (WOS). As per the name approval letter dated 15 May, 2024 issued by Ministry of Corporate Affairs (MCA), the said name is available for registration up to 09 June 2024.

The Company shall complete the registration process of the WOS within the above timeline.