Date: 07.09.2022

To,

To,

BSE Limited,

National Stock Exchange of India Limited,

Phiroze Jeejeebhoy Towers,

Capital Market - Listing, Exchange Plaza,

Dalal Street, Fort,

5th Floor, Plot No. C/1, G Block,

Mumbai- 400 001

Bandra‐Kurla Complex, Bandra (E),

Scrip Code: 517498

Mumbai 400 051

Symbol- WEBELSOLAR

Dear Sir / Madam,

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and subsequent amendments thereto

With reference to the captioned subject and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015 ("Listing Regulations"), we would like to inform both BSE Limited and the National Stock Exchange of India Limited that the Board has taken on record a joint venture agreement executed with AMP Energy India Private Limited dated 31st August, 2022.

The disclosure as required under Schedule III of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is attached as Annexure I to this letter.

Meeting commenced at 02.00 P.M and ended at 05.00 P.M today 07.09.2022.

We request you to kindly take this on your record.

Thanking You,

Yours faithfully,

For Websol Energy Systems Limited

___________________

Sumit Kumar Shaw

Company Secretary & Compliance Officer

Encl: as stated

Websol Energy System Limited

48, Pramatha Choudhary Sarani, Plot No.849, Block - P, 2nd Floor, Kolkata - 700053, New Alipore Ph-(033)2400-0419, Fax -2400-0375

E-mail: websol@webelsolar.com

Corporate Office and Plant:

Sector II, Falta Special Economic Zone, Falta

24 Parganas(South ), West Bengal, India, Pin- 743504 Ph.: 91-3174-222932, Fax: 91-3174-222933E-mail:websol@webelsolar.com

CIN: L29307WB1990PLC048350

www.webelsolar.com

Annexure I

Sl. Particulars

Disclosures

No.

10. Name(s) of parties with whom the Websol Energy Systems Limited ("Company") and

agreement is entered

AMP Energy India Private Limited ("AEI")

hereinafter collectively referred to as Parties.

11.

Purpose of entering into the

The Joint Venture shall be incorporated by the Parties

agreement

to undertake production of up to 1.2 GW of

monocrystalline PERC solar cells and up to 1.2 GW of

mono PERC modules

12.

Shareholding, if any, in the entity

Neither the Company nor AEI has any shareholding

with whom the agreement is

in each other. The proposed shareholding in the new

executed

joint venture will be Company- 51% and AEI- 49%. It

is further agreed that the shareholding of AEI shall at

no time exceed 50% on a fully diluted basis.

13.

Significant terms of the agreement (in

 Thin capital base

brief)

 AEI to offtake 50% of the production; 50%

production to be sold in the market

14.

Whether, the said parties are related

No

to promoter/promoter group/ group

companies in any manner. If yes,

nature of relationship

15. Whether the transaction would fall No within related party transactions? If yes, whether the same is done at "arm's length"

16.

In case of issuance of shares to the

20,000 equity shares each with a par value of Rs. 10/-

parties, details of issue price, class of

and will be issued amongst the Company and AEI.

shares issued

The Issue Price shall be fair value as per the

applicable law.

17.

Any other disclosures related to such

The Joint Venture's Board of Directors shall comprise

agreements, viz., details of nominee

of 5 Directors. Both Company and AEI shall be

on the board of directors of the listed

entitled to nominate and appoint 2 Directors each on

entity, potential conflict of interest

the Board of Directors of Joint Venture. The Joint

arising out of such agreements, etc

Venture shall have 1 Independent Director / CEO,

subject to other conditions defined in the Joint

Venture Agreement.

No potential conflict of interest will arise out of this

agreement.

Websol Energy System Limited

Corporate Office and Plant:

48, Pramatha Choudhary Sarani, Plot No.849, Block - P,

Sector II, Falta Special Economic Zone, Falta

2nd Floor, Kolkata - 700053, New Alipore

24 Parganas(South ), West Bengal, India, Pin- 743504

Ph-(033)2400-0419, Fax -2400-0375

Ph.: 91-3174-222932, Fax: 91-3174-222933

E-mail: websol@webelsolar.com

E-mail: websol@webelsolar.com

CIN: L29307WB1990PLC048350

www.webelsolar.com

18.

In case of termination or amendment

Subsequent details on termination or amendment of

of agreement, listed entity shall

agreement will be promptly brought to the notice of

disclose additional details to the

both National Stock Exchange of India Limited and

stock exchange(s): a) name of parties

BSE Limited.

to the agreement; b) nature of the

agreement; c) date of execution of the

agreement; d) details of amendment

and impact thereof or reasons of

termination and impact thereof.

Annexure II

About Amp Energy India (AEI)

Amp Energy India is India's first truly balanced Renewable Energy IPP with a total portfolio of about ~2GW+ spread across 15 states in the country. Amp India has a balanced portfolio of C&I and utility customers which allows it to provide clean and green energy solutions to 50+ marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities and Government bodies. AEI is one of the few developers that has the capability to provide diversified solutions to its customers in niche segments (Solar, Hybrid, Floating Solar) on a large scale.

Amp Energy India acts as a One Stop Shop for Energy providing renewable energy solutions to customers across technologies such as Solar, Wind, Hybrids, Storage and Energy Management and has the ability to meet short-term,medium-term and long-term requirements of its customers. Amp Energy India is also associated with the Amp Energy Group headquartered in Toronto, Canada. With about $2 Billion total Capex financed globally, Amp Energy is a global energy transition platform with a focus on the key renewable markets such as US, Canada, India, Japan, Spain and Australia globally.

For Websol Energy Systems Limited

___________________

Sumit Kumar Shaw

Company Secretary & Compliance Officer

Websol Energy System Limited

48, Pramatha Choudhary Sarani, Plot No.849, Block - P, 2nd Floor, Kolkata - 700053, New Alipore Ph-(033)2400-0419, Fax -2400-0375

E-mail: websol@webelsolar.com

Corporate Office and Plant:

Sector II, Falta Special Economic Zone, Falta

24 Parganas(South ), West Bengal, India, Pin- 743504 Ph.: 91-3174-222932, Fax: 91-3174-222933E-mail:websol@webelsolar.com

CIN: L29307WB1990PLC048350

www.webelsolar.com

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Websol Energy System Limited published this content on 07 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 September 2022 12:29:05 UTC.