Hinduja Renewables signs solar PPAs with Lloyd Metals

HR Godavari Private Limited, the special purpose vehicle (SPV) of Hinduja Renewables Energy Private Limited, has signed two power purchase agreements (PPAs) with Lloyd Metals and Energy Limited. These PPAs cover the supply of 60.7 MW (86.05 MWp) of solar power under a captive model.

The agreements include one PPA for 10.7 MW (16.05 MWp) and another for 50 MW (70 MWp) of solar capacity. Both projects will be developed in India.

Alongside the PPAs, the companies have also signed a share subscription and shareholders’ agreement (SSSHA). Under this agreement, Lloyd Metals and Energy will acquire a 26 per cent equity stake in the SPV. This equity structure aligns with regulatory requirements for captive power projects.

The deal marks a step forward in captive renewable energy adoption for industrial users.